Keep these tips in mind and stay informed about the latest trends in the global currency markets. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. This shows that the value of the Naira improved when compared to Tuesday, October 3rd, 2023 when the local currency was exchanged at N1009 to a Dollar and a Dollar was purchased at N1000.īy staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. ![]() On Saturday, October 7th, 2023, individuals in the black market purchased one US dollar for N1000 and sold it for N992. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange. Investors King understands that although the dollar to naira opened at N1000 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. What is the current exchange rate of the dollar to naira in the black market today?Īccording to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1000 and sold for ₦992.Įxchange Rate of Dollar To Naira in Black Market Today? Dollar to Naira (USD to NGN)Ĭentral Bank of Nigeria (CBN) Naira Exchange Rates for Banks Date However, you can buy and sell 1 USD at ₦1000 and ₦992 as of the time of writing today. This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. How Much is Dollar to Naira Today in the Black Market? This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates. This means that for every one US dollar, you can exchange it for ₦1000, Investors King reports. What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of October 7th, 2023, the dollar to naira exchange rate is 1 USD to 1000 NGN at the black market.
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