Dollar to Naira Exchange Rate (USD/NGN) Dec. 16, 2022 (Black Market)

Dollar to Naira Exchange Rate (USD/NGN) Dec. 16, 2022, from an unofficial market (black market), can be accessed below.

 

 

NewsOnline reports that the black market is a transaction platform, whether physical or virtual, where the dollar to naira is exchanged illegally as against banks and Central bank of Nigeria (CBN) official rates. What makes the market “black” can either be the illegal nature of the high exchange rates, the illegal nature of the transaction, or both and its effect on the Nigerian economy. Dollar to naira black market exchange can also be known as “The parallel Market’.

 

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This online news platform understands that the Dollar to Naira parallel market exchange rate today, Friday 16 December 2022 is between ₦740 and ₦745 with an average of ₦750.00 in Nigeria, according to black market movers who spoke to NewsOnline Nigeria. in Lagos and Abuja.

 

In the last 7 days, between 09/12/2022 and 16/12/2022, we see that the Dollar to Naira black market rate had values between ₦730 and ₦770 with an average ₦740.79. When we compare last week’s numbers with today’s (13/12/2022) rate, the average Dollar to Naira rate saw a 10.79 points decrease from ₦750.79 to ₦745.00 which equals a 1.46% fall.