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 ₦573 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?
October 22 dollar to naira official exchange rate: $1 dollar to naira =₦414.10
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 ₦414.10 per dollar on Friday, 22 October 2021, after it closed at ₦415.07 per $1 on Thursday, 21 October 2021. This represents a change of 0.04%.
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 October 22, 2021 (BLACK MARKET): dollar to naira exchange rate today black market
October 22 dollar to naira black market exchange rate: $1 dollar to naira = ₦573
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N573.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 21 October 2021, in Lagos Nigeria after it closed N572.00 per $1 on Thursday, 21 October 2021
Note: dollar to naira exchange rate has stabilized at N570-575 per $1 since Monday, October 11.
Even though the dollar to naira opened in the parallel market at ₦573 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 the black market, the players buy a dollar for N568 and sell for N573 on Friday morning, October 22, 2021 after they bought N568 and sold N572 the previous day. This means dollar to naira changed its position from the previous day.
Meanwhile, Glamtush reports that the USD started this week at ₦572 in Parallel Market also known as Black Market on Monday, October 18, 2021 in Lagos Nigeria. after it opened N575 last week Monday, October 11, 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.