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 ₦775 and the price can change (high or low) within hours.
Speaking in Victoria Island, Lagos, Bureaux De Change operators (BDCs) said they purchased the greenback at N775/$, sold at N780/$, and made a gain of N5.
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 31 May 2023 (BLACK MARKET): dollar to naira exchange rate today black market
Dolla to Naira exchange rate opened at N775.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 31 May 2023, in Lagos Nigeria, after it closed at N775.00 per $1 on Tuesday, 30 May 2023.
Even though the dollar to naira opened in the parallel market at ₦780 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 N775 and sell for N780 on Wednesday morning, 31 May 2023, after they bought N775 and sold for N780 on Tuesday, 30 May 2023.
Meanwhile, NewsOnline Nigeria reports that the USD started this week at ₦775 in Parallel Market also known as Black Market on Monday, 29 May 2022, in Lagos Nigeria, after it opened at N755 last week Monday, May 22, 2023.
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