Black Market Dollar To Naira Exchange Rate Sunday Emerges

LAGOS PARALLEL MARKET RATES October 17, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 17 dollar to naira black market exchange rate: $1 dollar to naira = N572

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N572.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 17 October 2021, in Lagos Nigeria after it closed N571.00 per $1 on Saturday, 16 October 2021. This represents a change of $1 from the previous day. This means dollar to naira changed its position from the previous day.

Note: dollar to naira exchange rate has stabilized at N570-575 per $1 since Monday, October 11.

Even though the dollar to naira opened in the parallel market at ₦572 per $1 today, GoldenNewsNg 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.

GoldenNewsNg reports that in the black market, the players buy a dollar for N567 and sell for N572 on Sunday morning, October 17, 2021 after they bought N567 and sold N572 the previous day. This means dollar to naira changed its position from the previous day.

Disclaimer: GoldenNewsNg 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.