Dollar to Naira Exchange Rate (USD/NGN) Nov. 16, 2022, from an unofficial market (black market), 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 ₦770 and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today? See Dollar To Naira Exchange Rate Wednesday 16th November below.
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 TODAY: dollar to naira exchange rate today black market.
November 16 dollar to naira black market exchange rate: $1 dollar to naira = ₦770
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 770 |
| Selling Rate | 775 |
The local currency opened at N775.00 per $1 at the parallel market otherwise known as the black market today Wednesday, November 16, 2022.
Even though the dollar to naira opened in the parallel market at ₦775 per $1 today, NewsOnline Nigeria 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.
NewsOnline reports that on the black market, the players buy a dollar for N770 and sell for N775 on Wednesday morning, November 16, 2022, after they bought N770 and sold for N775 on Tuesday, November 15, 2022.
Meanwhile, NewsOnline Nigeria reports that the USD started this week at ₦720 in Parallel Market also known as Black Market on Monday, 14 November 2022, in Lagos Nigeria, after it opened at ₦870 last week Monday, November 7, 2022.
