Black market dollar to naira exchange rate today 16 March 2022 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 ₦580 and the price can change (high or low) within hours.
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 March 16, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
March 16 dollar to naira black market exchange rate: $1 dollar to naira = ₦580
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N579.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 16 March 2022, in Lagos Nigeria, after it closed N577.00 per $1 on Tuesday, 15 March 2022.
Even though the dollar to naira opened in the parallel market at ₦580 per $1 today, Newsonline 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 Nigeria reports that at the black market, the players buy a dollar for N575 and sell for N580 on Wednesday morning, March 16, 2022, after they bought N572 and sold for N577 on Tuesday, 15 March 2022.
Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦579 in Parallel Market also known as Black Market on Monday, March 14, 2022, in Lagos Nigeria, after it opened at 577 last week Monday, March 7, 2022.
