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 December 23, 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 | 743 |
| Selling Rate | 745 |
The local currency opened at N745.00 per $1 at the parallel market, otherwise known as the black market, today, Friday, December 23, 2022, in Lagos, Nigeria. After it closed at 745.00 per $1 on Thursday, December 22, 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 N743 and sell it for N745 on Friday, December 23, 2022. After having purchased N742 and sold it for N747 on Thursday, December 22, 2022.
However, iexclusiveNews Nigeria reports that the USD started this week at N747 in the parallel market, also known as the black market, on Monday, December 19, 2022, in Lagos, Nigeria. After it opened at N743 last week, on Monday, December 12, 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.
