IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at ₦700 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 12 dollar to naira black market exchange rate: $1 dollar to naira = ₦700
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 690 |
| Selling Rate | 700 |
The local currency opened at N700.00 per $1 at the parallel market otherwise known as the black market today Saturday, 12 November 2022, in Lagos Nigeria, after it closed at N730.00 per $1 on Friday, 11 November 2022.
Even though the dollar to naira opened in the parallel market at ₦700 per $1 today, Glamtush 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.
Glamtush reports that in the black market, the players buy a dollar for N690 and sell for N700 on Saturday morning, November 12, 2022, after they bought N720 and sold for N730 on Friday, 11 November 2022.
Meanwhile, the USD started this week at ₦890 in Parallel Market also known as Black Market on Monday, November 7, 2022, in Lagos Nigeria, after it opened at ₦800 last week Monday, October 31, 2022.
Disclaimer: GLAMTUSH 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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