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Black Market Dollar To Naira Today 16th October 2023

Black market dollar to naira exchange rate today 16 October 2023, Aboki dollar rate 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. It means that…you can buy or sell 1 dollar at a certain rate and the price can change (high or low) within hours.

How much is the Black market dollar to naira exchange rate today?

The local currency opened at N1049.00 per $1 at the parallel market otherwise known as the black market today Monday, 16 October 2023, in Lagos Nigeria, after it closed at N1040.00 per $1 on Sunday, 15 October 2023.

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Buying RateN1040
Selling RateN1049

Even though the dollar to naira opened in the parallel market at ₦1049 per $1 today, TheTimes 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.

TheTimes Nigeria reports that in the black market, the players buy a dollar for N1040 and sell for N1049 on Monday, 16 October 2023, after they purchased N1035 and sold for N1040 on Sunday, 15 October 2023.

Meanwhile, TheTimes Nigeria reports that the USD started this week at ₦1049 in Parallel Market also known as Black Market on Monday, October 9, 2023, in Lagos Nigeria, after it opened at  ₦1000 last week Monday, October 9, 2023.

Disclaimer: NEWSONE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

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