Dollar To Naira Exchange Rate Today 14 October 2021 (Black Market Rate)

LAGOS PARALLEL MARKET RATES October 14, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 14 dollar to naira black market exchange rate: $1 dollar to naira = N575

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N575.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 14 October 2021, in Lagos Nigeria after it closed N575.00 per $1 on Wednesday, 13 October 2021. This represents a change of $0 from the previous day. This means dollar to naira maintained its position from the previous day.

Note: dollar to naira exchange rate has stabilized at N570-575 per $1 since Monday, October 11.

Even though the dollar to naira opened in the parallel market at ₦575 per $1 today, 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 the black market, the players buy a dollar for N570 and sell for N575 on Thursday morning, October 14, 2021 after they bought N570 and sold N575 the previous day. This means dollar to naira maintained its position from the previous day.