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 ₦740 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 October 12, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
The local currency opened at N740.00 per $1 at the parallel market otherwise known as the black market today Wednesday, October 12 2022, in Lagos Nigeria, after it closed at N740.00 per $1 on Tuesday 11, October 2022.
Even though the dollar to naira opened in the parallel market at ₦740 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.
Glamtushreports that on the black market, the players buy a dollar for N735 and sell for N740 on Wednesday morning, October 12, 2022, after they bought N735 and sold for N740 on Tuesnday, October 11 2022.
Meanwhile, Glamtush reports that the USD started this week at ₦735 in Parallel Market also known as Black Market on Monday, 10 October 2022, in Lagos Nigeria, after it opened at ₦710 last week Monday, October 3rd 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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