Dollar To Naira Exchange Rate Today 12 October 2021 (Black Market Rate)

Dollar to Naira exchange rate today 12 October 2021, black market rate can be accessed below.

Eko Hot Blog 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.

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

October 12 dollar to naira official exchange rate: $1 dollar to naira = N413.64

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 N413.64 dollar on Tuesday, 12 October 2021, after it closed at N414.40 per $1 on Monday, 11 October 2021. This represents a change of 0.03%.

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

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 12, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 12 dollar to naira black market exchange rate: $1 dollar to naira = N575

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N575.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 12 October 2021, in Lagos Nigeria after it closed N575.00 per $1 on Monday, 11 October 2021. This represents a change of $0 from the previous day.

Even though the dollar to naira opened in the parallel market at ₦575 per $1 today, 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 the black market, the players buy a dollar for N570 and sell for N575 on Tuesday morning, October 12, 2021 after they bought N570 and sold N575 the previous day.

Meanwhile, Eko Hot Blog reports that the USD started this week at ₦575 in Parallel Market also known as Black Market on Monday, October 11, 2021 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.