See the black market Dollar to Naira exchange rate for 23rd October, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1200 and sell at N1210 on Monday 23rd October 2023, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | N1200 |
| Selling Rate | N1210 |
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 794 |
| Selling Rate | 795 |
Nigeria’s currency, the Naira, has further declined due to the increasing scarcity of the US Dollar.
Truetells Nigeria learnt that the naira started trading at 1,175/$ at the parallel market and closed at 1,190/$ last Friday. This is a decrease from two weeks ago when the naira traded at 1,100/$ at the parallel market.
However, there was a slight appreciation in the naira’s value on the Investor & Exporter forex window. It sold at 808.28/$ at the close of trading on Friday, compared to 810.05/$ on Thursday, as reported by the FMDQ. Some Bureau de Change Operators mentioned to journalists that the scarcity of the dollar has made it difficult for them to provide forex to customers.
“On Friday, the price was 1,175/$, but we don’t even have it. It is not available right now,” A BDC operator, Jubril Mutiu, told The PUNCH in a recent interview.
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