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 ₦705 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 September 5, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
The local currency opened at N705.00 per $1 at the parallel market otherwise known as the black market today Monday, 5 September 2022, in Lagos Nigeria, after it closed at N692.00 per $1 on Sunday, 4th September 2022.
Even though the dollar to naira opened in the parallel market at ₦705 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 N700 and sell for N705 on Monday morning, September 5, 2022, after they bought N692 and sold for N695 on Sunday, 4th September 2022.
Meanwhile, the USD started this week at ₦692 in Parallel Market also known as Black Market on Monday, 5 September 2022, in Lagos Nigeria, after it opened at ₦692 last week Monday, 29 August 2022.
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