IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at ₦755 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: Black market dollar to naira
June 2 dollar to naira black market exchange rate: $1 dollar to naira = ₦755
The local currency opened at N755.00 per $1 at the parallel market otherwise known as the black market today Friday, 2 June 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Thursday, 1 June 2023.
Even though the dollar to naira opened in the parallel market at ₦755 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 N750 and sell for N755 on Friday, 2 June 2023, after they purchased N745 and sold for N750 on Thursday, 1 June 2023.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦760 in Parallel Market also known as Black Market on Monday, 29, 2023, in Lagos Nigeria, after it opened at ₦745 last week Monday, May 22, 2023.
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.