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 ₦736 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 TODAY: dollar to naira exchange rate today black market.
October 12th dollar to naira black market exchange rate: $1 dollar to naira = ₦735
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 733 |
| Selling Rate | 736 |
The local currency opened at N736.00 per $1 at the parallel market otherwise known as the black market today Thursday, 13th October 2022, in Lagos Nigeria, after it closed at N735.00 per $1 on Wednesday, 12th October 2022.
Even though the dollar to naira opened in the parallel market at ₦736 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 N733 and sell for N736 on Thursday, October 13, 2022, after they bought N733 and sold for N735 on Wednesday, 12th October 2022.
Meanwhile, the USD started this week at ₦734 in Parallel Market also known as Black Market on Monday, October 10, 2022, in Lagos Nigeria, after it opened at ₦742 last week Monday, October 3, 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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