Black market dollar to naira exchange rate today October 25 2022 can be accessed below.
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 ₦750 and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today?
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 TODAY: dollar to naira exchange rate today black market
October 25 dollar to naira black market exchange rate: $1 dollar to naira = ₦750
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market today Tuesday, October 25, 2022, in Lagos Nigeria, after it closed at N750.00 per $1 on Monday 24, October 2022.
Even though the dollar to naira opened in the parallel market at ₦750 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 in the black market, the players buy a dollar for N745 and sell for N750 on Tuesday morning, October 25, 2022, after they bought N745 and sold for N750 on Monday, 24 October 2022.
Nigeria’s external reserve stood at $37.71 billion as of 22nd October 2022, 0.12% decline compared to $37.76 billion recorded the previous day. The nation’s foreign reserve has been on a downward trend due to the continuous intervention by the CBN in the official market to maintain the local currency’s stability.
Meanwhile, the USD started this week at ₦750 in Parallel Market also known as Black Market on Monday, October 24, 2022, in Lagos Nigeria, after it opened at ₦745 last week Monday, October 17, 2022.
