Business and economy
Black Market Dollar To Naira Exchange Rate Today 19 May 2022
Black market dollar to naira exchange rate today 19 May 2022 can be accessed below.
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 ₦598 and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today?
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 May 19, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
May 19 dollar to naira black market exchange rate: $1 dollar to naira = ₦598
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N598.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 19 May 2022, in Lagos Nigeria, after it closed at N597.00 per $1 on Wednesday, 18 May 2022.
Even though the dollar to naira opened in the parallel market at ₦598 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 on the black market, the players buy a dollar for N595 and sell for N598 on Thursday morning, May 19, 2022, after they bought N595 and sold for N598 on Wednesday, 18 May 2022.
Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦590 in Parallel Market also known as Black Market on Monday, May 9, 2022, in Lagos Nigeria, after it opened at #587 last week Monday, May 2, 2022.
Disclaimer: CITYNEWS 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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