News
Black Market Dollar To Naira Exchange Rate Today 8th November 2022
Black market dollar to naira exchange rate today 8th November 2022, Aboki dollar rate 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 ₦870 and the price can change (high or low) within hours.
How much is the exchange rate of Dollar to Naira in Black Market today? See Dollar To Naira Exchange Rate Tuesday 8th November below.
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.
November 8 dollar to naira black market exchange rate: $1 dollar to naira = ₦870
Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
Buying Rate | 865 |
Selling Rate | 870 |
The local currency opened at N870.00 per $1 at the parallel market otherwise known as the black market today Tuesday, November 8, 2022.
Even though the dollar to naira opened in the parallel market at ₦870 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 N865 and sell for N870 on Tuesday morning, November 8, 2022, after they bought N865 and sold for N870 on Monday, November 7, 2022.
Meanwhile, NewsOnline Nigeria reports that the USD started this week at ₦870 in Parallel Market also known as Black Market on Monday, 7 November 2022, in Lagos Nigeria, after it opened at ₦800 last week Monday, October 24, 2022.
According to reports, the naira is currently under high selling pressure in the black market following the Central Bank of Nigeria’s (CBN) announcement that the newly redesigned naira notes would start circulating in the economy from December 15, 2022.
This online news observed that since the apex bank made this announcement last week, the naira has fallen from its initial record low of N765/$1, losing over N53 in barely six days, further piling pressure on the local currency.
- Top Stories23 hours ago
BREAKING: TINUBU APPOINTS NIGERIA’S RENOWNED BANKER, JIM OVIA AS CHAIRMAN OF NIGERIAN EDUCATION LOAN FUND
- Politics10 hours ago
Nigerians must support President Tinubu as he addresses Nigeria’s many challenges – Sola Adeyemo
- Top Stories12 hours ago
Ile-ife Is Our Home, Benin Reps Tell Ooni Of Ife(Video)
- Top Stories4 hours ago
Court Restrains Kano APC Ward Executives From Sacking Ganduje
- News11 hours ago
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 27th April 2024
- Entertainment4 hours ago
Lagos To Ikere Ekiti: Primate Ayodele’s Homecoming with Charity and Salvation -by Folorunsho Hamsat
- News6 hours ago
Oyo LG Election: Gov Makinde Casts Ballot In Ibadan
- Top Stories6 hours ago
Abuja American school has refunded $760k of Yahaya Bello’s children fees – EFCC