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 ₦770 and the price can change (high or low) within hours.
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 TODAY: dollar to naira exchange rate today black market.
November 17 dollar to naira black market exchange rate: $1 dollar to naira = ₦805
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 800 |
| Selling Rate | 805 |
The local currency opened at N805.00 per $1 at the parallel market otherwise known as the black market today Thursday, 17 November 2022, in Lagos Nigeria, after it closed at N800.00 per $1 on Wednesday, 16 November 2022.
Even though the dollar to naira opened in the parallel market at ₦805 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 N800 and sell for N805 on Thursday morning, November 17, 2022, after they bought N795 and sold for N800 on Wednesday, 16 November 2022.
Meanwhile, Eko Hot Blog reports that the USD started this week at ₦725 in Parallel Market also known as Black Market on Monday, November 14, 2022, in Lagos Nigeria, after it opened at ₦890 last week Monday, November 7, 2022.
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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