Dollar to Naira Black Market Exchange Rate Today, February 16, 2023

Dollar to Naira Black Market Exchange Rate Today, February 16, 2023, Can Be Accessed Below

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 N780; the price (high or low) can change within hours.

How much is the exchange rate of the Dollar to the Naira on 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 (Aboki Forex).

Today’s parallel market rates in Lagos: on February 16, the Dollar to the Naira exchange rate on the black market.

The black market exchange rate for the Dollar to the Naira is $1 = N780

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

Buying Rate: 775

Selling Rate: 780

The local currency opened at N780.00 per $1 at the parallel market. Otherwise known as the black market, Wednesday, February 16, 2023, in Lagos, Nigeria. After it closed at N765.00 per $1 on Wednesday, February 15, 2023.

Even though the Dollar to Naira exchange rate opened in the parallel market at N780 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 on the black market, the players buy a Dollar for N775 and sell it for N780 on Thursday February 16, 2023. After having purchased N760 and sold it for N765 on Wednesday, February 15, 2023.

However, iexclusiveNews Nigeria reports that the USD started this week at N760 in the parallel market, also known as the black market, on Monday, February 13, 2023, in Lagos, Nigeria. After it opened at N754 last week Friday, February 10, 2023.

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.