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 ₦630 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 August 5, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
The local currency opened at N630.00 per $1 at the parallel market otherwise known as the black market today Friday, 5 August 2022, in Lagos Nigeria, after it closed at N650.00 per $1 on Thursday, 4 August 2022.
Even though the dollar to naira opened in the parallel market at ₦690 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 N610 and sell for N630 on Friday morning, August 5, 2022, after they bought N650 and sold for N655 on Thursday, 4 August 2022.
Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦695 in Parallel Market also known as Black Market on Monday, 1 August 2022, in Lagos Nigeria, after it opened at ₦658 last week Monday, 25 July 2022.
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