IMPORTANT NOTE: The exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at ₦701 and the price can change (high or low) within hours.
Glamtush has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.
| 1 USD = 424.3063 NGN |
| 1 Dollars = 424.3063 Nigerian Naira |
| The USDNGN rate as of 7 Sep 2022 at 7:06 AM |
The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at ₦424.3063 per dollar on Wednesday, September 7, 2022, after it closed at ₦423.9346 per $1 on Tuesday, September 6, 2022.
US Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black market dollar to naira |
| Buying Rate | 698 |
| Selling Rate | 701 |
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 September 7, 2022 (BLACK MARKET): dollar to naira exchange rate today black market.
The local currency opened at N701.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, September 7, 2022, in Lagos Nigeria after it closed at N702.00 per $1 on Tuesday, September 6, 2022. This represents a change in N1 from the previous day.
Even though the dollar to naira opened in the parallel market at ₦701 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 N698 and sell for N701 on Wednesday, September 7, 2022, after they bought N699 and sold for N702 on Monday, September 5, 2022. This means the exchange rate changed its position from the previous day.
Meanwhile, the USD started this week at ₦702 in Parallel Market also known as Black Market on Monday, September 5, 2022, in Lagos Nigeria, after it opened at ₦697 last week Monday, August 29, 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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