See the black market Dollar to Naira exchange rate for 2nd November, 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 N1175 and sell at N1180 on Thursday 2nd November 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 | N1175 |
| Selling Rate | N1180 |
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 806 |
| Selling Rate | 807 |
Scarcity of Naira has been observed in at least two states, including Kano and Borno, ahead of the deadline for the use of the old N200, N500, and N1000 banknotes, as earlier announced by the Central Bank of Nigeria (CBN).
Recall that the CBN had previously announced that the old Naira notes would remain legal tender until December 31, 2023, in compliance with the Supreme Court’s order.
Truetells Nigeria reports that former CBN governor, Godwin Emefiele, had unveiled plans to redesign the N200, N500, and N1,000 notes, urging citizens to deposit their old notes before January 31, 2023, as they would no longer be accepted as legal tender. A development that brought untold hardship on Nigerians across board spiking protests and attacks on banks in various cities across the country.
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