Eko Hot Blog reports that the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N743 and sell at N747 on Monday 23 January 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N743 |
| Selling Rate | N747 |
The local currency opened at N746.00 per $1 at the parallel market otherwise known as the black market today Monday, 23 January 2023, in Lagos Nigeria, after it closed at N747.00 per $1 on Sunday, 22 January 2023.
Even though the dollar to naira opened in the parallel market at ₦746 per $1 today, Eko Hot Blog 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.
Eko Hot Blog reports that in the black market, the players buy a dollar for N743 and sell for N746 on Monday morning, January 23, 2023, after they purchased N743 and sold for N747 on Sunday, 22 January 2023.
Meanwhile, Eko Hot Blog reports that the USD started this week at ₦747 in Parallel Market also known as Black Market on Monday, January 23, 2023, in Lagos Nigeria, after it opened at ₦743 last week Monday, January 16, 2023.
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