Naira Crashes Massively At Black Market, See Today’s Exchange Rate

Naira has crashed massively on the black market, See today’s exchange rate 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 26 dollar to naira official exchange rate: $1 dollar to naira =₦414.04

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 ₦414.04 per dollar on Tuesday, 26 October 2021, after it closed at ₦415.07 per $1 on Monday, 25 October 2021. This represents a change of 0.00%.

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 26, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 26 dollar to naira black market exchange rate: $1 dollar to naira = ₦575
Lagos parallel market (black market dollar exchange rate today)

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The local currency opened at N575.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 26 October 2021, in Lagos Nigeria after it closed N570.00 per $1 on Monday, 25 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 ₦575 per $1 today, Newsone 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 N568 and sell for N575 on Tuesday morning, October 26, 2021 after they bought N568 and sold N570 on Monday, 25 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.