Dollar To Naira Exchange Rate Today 28 October 2021 (Black Market Rate)

Dollar To Naira Exchange Rate Today (Black Market Rate)

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 ₦571 and the price can change (high or low ) within hours.

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 28 dollar to naira official exchange rate: $1 dollar to naira =₦414.13

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 ₦414.13 per dollar on Thursday, 28 October 2021, after it closed at ₦415.07 per $1 on Wednesday, 27 October 2021. This represents a change of -0.07%.

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 28, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 28 dollar to naira black market exchange rate: $1 dollar to naira = ₦571

Dollar To Naira Exchange Rate For Today

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N571.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 28 October 2021, in Lagos Nigeria after it closed N571.00 per $1 on Wednesday, 27 October 2021.

Note: dollar to naira exchange rate has stabilized at N570-575 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 ₦571 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 the black market, the players buy a dollar for N567 and sell for N571 on Thursday morning, October 28, 2021 after they boughtN566 and sold N575 on Wednesday, 27 October 2021.

Meanwhile, Eko Hot Blog 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: 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.