Naira has massively gained at the black market, see new exchange rate.
Newsonline Nigeria understands that the massive gain is coming after the Naira closed at ₦580 per a dollar on Tuesday, March 1, 2022.
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 ₦577 and the price can change (high or low) within hours.
A survey conducted by Newsonline Nigeria at the Bureau De Change (BDC) market in Ogba area of Lagos, Nigeria’s commercial city, on Wednesday Morning, March 2, 2022, shows that the naira to usd exchanged at N577/$1, gaining from the N580 position of 1 dollars to naira it opened March 2022 with, months after usd to naira exchanged for N530/$1.
How much is 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 (black market dollar exchange rate today)
The local currency opened at N577.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 2 March 2022
Even though the dollar to naira opened in the parallel market at ₦577 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 N572 and sell for N577 on Wednesday morning, March 2, 2022 after they bought N575 and sold for N580 on Tuesday, 1 March 2022.
Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦576 in Parallel Market also known as Black Market on Monday, February 28, 2022 in Lagos Nigeria, after it opened at 575 last week Monday, February 21, 2022.