Naira
Daily Black Market Dollar to Naira Exchange Rate Tracker, 7 November 2023 in Nigeria can be accessed below.
Newsonline Nigeria has obtained the official Naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market. As of now, you can purchase 1 dollar at ₦985 and sell it at ₦990 however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market) and Abuja (FCT Black Market Rates).
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 985 |
| Selling Rate | 990 |
The local currency opened at N990 per $1 at the parallel market otherwise known as the black market today Tuesday, 7 November 2023, in Lagos Nigeria, after it closed at N990 per $1 on Monday, 6 November 2023.
Even though the dollar to naira opened in the parallel market at ₦990 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 Nigeria reports that in the black market, the players buy a dollar for N985 and sell for N990 on Tuesday, 7 November 2023.
The Nigerian naira depreciates against the dollar on Monday, 6th November 2023, closing at N809.02/$1 at the official market.
This represents a 4.06% increase from the N776.14/$1 recorded on Friday 3rd November day.
The intraday high recorded was N1100/$1, while the intraday low was N720.50/$1, representing a wide spread of N379.50/$1.
Meanwhile, NewsOnline Nigeria reports that the USD started this week at ₦990 in Parallel Market also known as Black Market on Monday, 6 November 2023, in Lagos Nigeria, after it opened at ₦1200 last week Monday, 30 October 2023.
Disclaimer: NEWSONLINE NIGERIA does not set or determine forex 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 you buy or sell forex may be different from what is captured in this article.
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