Business & Economy

Black Market Dollar To Naira Exchange Rate Today 23 May 2022

Published

3 months ago

May 23, 2022

Black market dollar to naira exchange rate today 23 May 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 ₦605 and the price can change (high or low) within hours.

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 May 23, 2022 (BLACK MARKET): dollar to naira exchange rate today black market

May 23 dollar to naira black market exchange rate: $1 dollar to naira = ₦605

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N605.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 23 May 2022, in Lagos Nigeria, after it closed at N605.00 per $1 on Sunday, 22 May 2022.

Even though the dollar to naira opened in the parallel market at ₦605 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 maket, the players buy a dollar for N600 and sell for N605 on Monday morning, May 22, 2022, after they bought N598 and sold for N605 on Sunday, 22 May 2022.