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Home Business & Brands

Dollar To Naira Exchange Rate Today 1st November 2021 (Black Market Rate)

byeditor
November 1, 2021
in Business & Brands
Reading Time: 4 mins read
Bureau De Change Operators
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Dollar to Naira exchange rate today 1st November 2021, black market rate 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 ₦565 and the price can change (high or low ) within hours.

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Newsonline 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?

November 1 dollar to naira official exchange rate: $1 dollar to naira =₦

 

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 ₦414.12 per dollar on Monday, 1 November 2021, after it closed at ₦415.10 per $1 on Friday, 29 October 2021. This represents a change of 0.00%.

 

How much is the exchange rate of the Dollar to Naira in the 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 November 1, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

Dollar to Naira exchange rate today

November 1 dollar to naira black market exchange rate: $1 dollar to naira = ₦565

 

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N565.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 1 November 2021, in Lagos Nigeria after it closed N569.00 per $1 on Friday, 29 October 2021.

 

Note: dollar to naira exchange rate has stabilized at N565-575 per $1 since Monday, October 11. This is coming after CBN vs Aboki FX clash over the dollar to naira black market exchange rate.

 

Even though the dollar to naira opened in the parallel market at ₦565 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 N555 and sell for N565 on Monday morning, November 1, 2021 after they bought N560 and sold N569 on Friday, 29 October 2021.

 

Meanwhile, Glamtush reports that the USD started this week at ₦565 in Parallel Market also known as Black Market on Monday, November 1, 2021 in Lagos Nigeria, after it opened N570 last week Monday, October 25, 2021.

 

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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