Business & Economy

Black Market Dollar To Naira Exchange Rate Today 16 July 2022

Published

1 month ago

July 16, 2022

Black market dollar to naira exchange rate today 16 July 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 ₦615 and the price can change (high or low) within hours

Naira Falls Massively First Day Of July 2022, See New Exchange Rate

Black market dollar to naira exchange rate

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 July 16, 2022 (BLACK MARKET): dollar to naira exchange rate today black market

July 16 dollar to naira black market exchange rate: $1 dollar to naira = ₦615

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N615.00 per $1 at the parallel market otherwise known as the black market today Saturday, 16 July 2022, in Lagos Nigeria, after it closed at N615.00 per $1 on Friday, 15 July 2022.

Even though the dollar to naira opened in the parallel market at ₦615 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 N615 on Friday morning, July 15, 2022, after they bought N610 and sold for N615 on Thursday, 14 July 2022.