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 ₦755 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 N750/$, sold at N755/$ 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 5th 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, 5th May 2023, in Lagos Nigeria, after it closed at N746.00 per $1 on Thursday, 4th May 2023.
Even though the dollar to naira opened in the parallel market at ₦737 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 at the black market, the players buy a dollar for N750 and sell for N755 on Friday morning, 5th May 2023, after they bought N745 and sold for N750 on Thursday, 4th May 2023.
Meanwhile, the USD started this week at ₦746 in Parallel Market also known as Black Market on Monday, 1st May 2022, in Lagos Nigeria, after it opened at 745 last week Monday, April 24th, 2023.
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