Connect with us

Business

Naira to Dollar Black Market Exchange Rate Today, January 5, 2023

Avatar photo

Published

on

Naira to Dollar Black Market Exchange Rate Today, January 10, 2023

Naira to Dollar Black Market Exchange Rate Today, January 5, 2023, Can Be Accessed Below

IMPORTANT NOTE: Please note that the exchange rate changes hourly. It depends on the volume of dollars available and the demand.

It means that… You can buy or sell one dollar at N745; the price (high or low) can change within hours.

How much is the exchange rate of the naira to the dollar on the black market today? Dollars on the black market converted into Nigerian naira

The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: for the Lagos market (black market).

Today’s parallel market rates in Lagos: the naira to the dollar exchange rate on the black market on January 5. The black market exchange rate for the naira to the dollar was $1 = N745

Naira to Dollar (NGN to USD) Black Market Exchange Rate Today

Buying Rate          740

Selling Rate          745

The local currency opened at N745.00 per $1 at the parallel market, otherwise known as the black market, today, Thursday January 5, 2023, in Lagos, Nigeria. After it closed at 743.00 per $1 on Wednesday, January 4, 2022.

Even though the naira to dollar exchange rate opened in the parallel market at 745 per $1 today.

iexclusivenews reports that the Central Bank of Nigeria (CBN) does not recognize 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.

iexclusiveNews reports that in the black market, the players buy a dollar for N740 and sell it for N745 on Thursday, January 5, 2023. After having purchased N738 and sold it for N743 on Wednesday, January 4, 2023.

However, iexclusiveNews Nigeria reports that the USD started this week at N741 in the parallel market, also known as the black market, on Monday, January 2, 2023, in Lagos, Nigeria. After it opened at N741 last week, on Friday, December 30, 2022.

Disclaimer: iexclusiveNews Nigeria does not determine or set currency exchange 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 at which you buy or sell forex may differ from what is captured in this article