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 ₦603 and the price can change (high or low) within hours.
Glamtush reports that the Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
Dollar to naira exchange rate for Saturday, May 21 goes for [N598 to buy and N603 to sell].
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 598 |
| Selling Rate | 603 |
Lagos parallel market (black market dollar exchange rate today: $1 dollar to naira today black market)- Aboki dollar rate
Even though the dollar to naira opened in the parallel market at ₦603 per $1 today, Newsone reports that the Central Bank of Nigeria (CBN) does not recognize 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 N598 and sell for N603 on Saturday, May 21, 2022, after they bought N593 and sold for N597 on Friday, May 20, 2022.
Meanwhile, this online reports that the USD started this week at ₦595 in Parallel Market also known as Black Market on Monday, May 16, 2022, in Lagos Nigeria, after it opened at 588 last week Monday, May 9, 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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