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.
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 27, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buy ing Rate
|
763 |
| Selling Rate | 765 |
The local currency opened at N765.00 per $1 at the parallel market otherwise known as the black market today Thursday, Oc tober 27, 2022, in Lagos Nigeria, after it closed at N760.00 per $1 on Wednesday 26, October 2022.
Even though the dollar to naira opened in the parallel market at ₦770 per $1 today, Glamtushreports 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 N763 and sell for N765 on Thursday morning, October 27, 2022, after they bought N762 and sold for N765 on Wednesday, October 26, 2022.
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 ₦735 last week Monday, October 17, 2022.
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