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 ₦740 and the price can change (high or low) 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).
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 735 |
| Selling Rate | 740 |
The local currency opened at N740.00 per $1 at the parallel market otherwise known as the black market today Wednesday, December 7, 2022.
Even though the dollar to naira opened in the parallel market at ₦740 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 reports that on the black market, the players buy a dollar for N735 and sell for N740 on Wednesday morning, 7th December 2022, after they bought N740 and sold for N735 on Tuesday, December 6, 2022.
Meanwhile, NewsOnline Nigeria reports that the USD started this week at ₦740 in Parallel Market also known as Black Market on Monday, 5 November 2022, in Lagos Nigeria, after it opened at ₦770 last week Monday, November 28, 2022.
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