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 ₦1,525 and the price can change (high or low) within hours.
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
July 6 dollar to naira black market exchange rate: $1 dollar to naira = ₦768
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦1,518 |
| Selling Rate | ₦1,525 |
The local currency opened at ₦1,525.00 per $1 at the parallel market otherwise known as the black market today Saturday, 6 July 2024, in Lagos Nigeria, after it closed at ₦1,518.00 per $1 on Friday, 5 July 2024.
Even though the dollar to naira opened in the parallel market at ₦1,525 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 ₦1,518 and sell for ₦1,525 on Saturday, 6 July 2024, after they purchased ₦1,518 and sold for ₦1,525 on Friday, 5 July 2024.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦1,520 in Parallel Market also known as Black Market on Monday, July 1, 2024, in Lagos Nigeria, after it opened at ₦1,500 last week Monday, June 24, 2024.
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.