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 ₦785 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.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 780 |
| Selling Rate | 785 |
The local currency opened at N785.00 per $1 at the parallel market otherwise known as the black market today Sunday, November 20, 2022.
Even though the dollar to naira opened in the parallel market at ₦785 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 on the black market, the players buy a dollar for N780 and sell for N785 on Sunday morning, November 20, 2022, after they bought N780 and sold for N785 on Saturday, November 19, 2022.
Meanwhile, Glamtush reports that the USD started this week at ₦720 in Parallel Market also known as Black Market on Monday, 14 November 2022, in Lagos Nigeria, after it opened at ₦870 last week Monday, November 7, 2022.
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