Dollar To Naira Exchange Rate Today 24 October 2021 and Black Market Rate can be accessed below:
This article is about Dollar to Naira rate at the official and black market exchange rate Today October 24, 2021.
Read GoldenNewsNg update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Sunday October 23, for $1 dollar to naira = ₦414.10/$1.
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦414.10/$1 on October 23, after it closed at ₦415.07 to a $1 on Thursday, 21 October 2021.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Sunday, October 24, opened N570.00 to a $1, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
LAGOS PARALLEL MARKET RATES October 23, 2021 (BLACK MARKET): dollar to naira exchange rate today black market
October 23 dollar to naira black market exchange rate: $1 dollar to naira = ₦573
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N573.00 per $1 at the parallel market otherwise known as the black market, today, Sunday, 24 October 2021, in Lagos Nigeria after it closed N572.00 per $1 on Saturday, 23 October 2021.
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 ₦573 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 the black market, the players buy a dollar for N568 and sell for N573 on Saturday morning, October 23, 2021 after they bought N568 and sold N573 the previous day.
Meanwhile, GoldenNewsNg reports that the USD started this week at ₦572 in Parallel Market also known as Black Market on Monday, October 18, 2021 in Lagos Nigeria. after it opened N575 last week Monday, October 11, 2021.
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.
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦414.10/$1 on 2erd October 2021 and after closing at ₦415.07/$1 on October 23nd, 2021, showing a change at 0.04.
According to data from FMDQ, forex turnover for Saturday, 23 October 2021 was set at $103.16 million down compared to $334.97 million for Friday 22 October, 2021.