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.
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 March 11, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
The local currency opened at N577.00 per $1 at the parallel market
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 Friday morning, March 11, 2022, after they bought N572 and sold for N577 on Thursday, 10 March 2022.
Meanwhile, Citynews Nigeria reports that the USD started this week at ₦576 in Parallel Market also known as Black Market on Monday, March 7, 2022, in Lagos Nigeria, after it opened at 575 last week Monday, February 28, 2022.
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