What is the current black market exchange rate of the US Dollar to the Nigerian Naira today?
As of April 10th, 2023, the black market exchange rate for the US Dollar to Naira in Lagos is ₦745. Please note that the exchange rates in the parallel market are subject to fluctuations and may differ from official rates.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N742 |
| Selling Rate | N745 |
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
| 1 USD = 465 NGN |
| 1 Dollars = 465 Nigerian Naira |
| The USDNGN rate as of 9 Apr 2023 |
Dolla to Naira exchange rate opened at N745.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 10th April 2023, in Lagos Nigeria, after it closed at N745.00 per $1 on Saturday, 8th April 2023.
Even though the dollar to naira opened in the parallel market at ₦745 per $1 today, Eko Hot Blog reports that the Central Bank of Nigeria (CBN) does not recognize 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,” Emefiele said in September 2021.
“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.”
Meanwhile, Eko Hot Blog reports that the USD started this week at ₦750 in Parallel Market also known as Black Market on Monday, 10th April 2023, in Lagos Nigeria.
Disclaimer: Eko Hot Blog 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.
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