Dollar To Naira Exchange Rate Today 29 October 2021 (Black Market Rate)

Dollar to Naira exchange rate today 29 October 2021, black market rate can be accessed below.

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 ₦565 and the price can change (high or low ) within hours.

Newsone has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

READ ALSO: BREAKING: Dollar To Naira Crashes To Lowest This Week, See New Exchange Rate

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

October 29 dollar to naira official exchange rate: $1 dollar to naira =₦414.49

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at ₦414.49 per dollar on Friday, 29 October 2021, after it closed at ₦415.10 per $1 on Thursday, 28 October 2021. This represents a change of 0.09%.

How much is exchange rate of Dollar to Naira in Black Market today?

READ ALSO: Biafra: Senator Abaribe Reveals Nnamdi Kanu Position On Anambra Election

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 October 29, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 29 dollar to naira black market exchange rate: $1 dollar to naira = ₦565

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N565.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 29 October 2021, in Lagos Nigeria after it closed N572.00 per $1 on Thursday, 28 October 2021.

Note: dollar to naira exchange rate has stabilized at N565-575 per $1 since Monday, October 11. This is coming after CBN vs Aboki FX clash over the dollar to naira black market exchange rate.

Even though the dollar to naira opened in the parallel market at ₦565 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 the black market, the players buy a dollar for N560 and sell for N565 on Friday morning, October 29, 2021 after they bought N567 and sold N571 on Thursday, 28 October 2021.

Meanwhile, Newsone Nigeria reports that the USD started this week at ₦570 in Parallel Market also known as Black Market on Monday, October 25, 2021 in Lagos Nigeria, after it opened N572 last week Monday, October 18, 2021.

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.