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 ₦685 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 12, 2022 (BLACK MARKET): dollar to naira exchange rate today black market
The local currency opened at N685.00 per $1 at the parallel market otherwise known as the black market today Friday, 12 August 2022, in Lagos Nigeria, after it closed at N685.00 per $1 on Thursday, 11 August 2022.
Even though the dollar to naira opened in the parallel market at ₦650 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 N680 and sell for N685 on Friday morning, August 12, 2022, after they bought N680 and sold for N685 on Thursday, 11 August 2022.
Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦685 in Parallel Market also known as Black Market on Monday, 8 August 2022, in Lagos Nigeria, after it opened at ₦658 last week Monday, 1st August 2022.
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