Find below, the dollar to naira exchange rate today 17 March 2023.
Newsone has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.
What Is The Black Market Dollar To Naira Exchange Rate For Today?
The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market today Friday, 17 March 2023, in Lagos Nigeria, after it closed at N752 per $1 on Thursday, 16 March 2023.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N747 and sell at N750 on Friday, 17 March 2023, according to sources at Bureau De Change (BDC).
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦747 |
| Selling Rate | ₦750 |
What Is The Official Exchange Rate For Dollar To Naira Today?
The exchange rate between the Naira and the US dollar according to the data released on the FMDQ Security Exchange the official forex trading portal showed that the Naira opened at ₦461.50 per dollar on Friday, March 17, 2023, and closed at ₦460.504 per $1 on Thursday, March 16, 2023.
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
| 1 USD = 460.4584 NGN |
| 1 Dollars = 460.4584 Nigerian Naira |
| The USDNGN rate as of 17 Mar 2023 |
Even though the dollar opened in the parallel market for ₦754 per $1, the 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.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said during a press briefing on September 17, 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 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.
