IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦747 and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today?
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
October 20th dollar to naira black market exchange rate: $1 dollar to naira = ₦747
The local currency opened at N747.00 per $1 at the parallel market otherwise known as the black market today Thursday, 20th October 2022, in Lagos Nigeria, after it closed at N745.00 per $1 on Wednesday, 19th October 2022.
Even though the dollar to naira opened in the parallel market at ₦747 per $1 today, Newsone reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
Newsone Nigeria reports that in the black market, the players buy a dollar for N745 and sell for N747 on Thursday, October 20, 2022, after they bought N741 and sold for N743 on Wednesday, 19th October 2022.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦745 in Parallel Market also known as Black Market on Monday, October 17, 2022, in Lagos Nigeria, after it opened at ₦734 last week Monday, October 10, 2022.
Disclaimer: NEWSONE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.