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 ₦765 and the price can change (high or low) within hours.
Speaking in Victoria Island, Lagos, Bureaux De Change operators (BDCs) said they purchased the greenback at N765/$, sold at N755/$, and made a gain of N5.
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 26 May 2023 (BLACK MARKET): dollar to naira exchange rate today black market
Dolla to Naira exchange rate opened at N755.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 26 May 2023, in Lagos Nigeria, after it closed at N746.00 per $1 on Thursday, 25 May 2023
Even though the dollar to naira opened in the parallel market at ₦737 per $1 today, 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 at the black market, the players buy a dollar for N760 and sell for N765 on Friday morning, 26 May 2023, after they bought N745 and sold for N760 on Thursday, 25 May 2023.
Meanwhile, the USD started this week at ₦765 in Parallel Market also known as Black Market on Monday, 22 May 2022, in Lagos Nigeria, after it opened at N755 last week Monday, May 15, 2023.
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