Business & Economy

Dollar To Naira CBN Rate, 16 Oct 2021: Dollar To Naira Black Market Rate

Dollar to Naira CBN Exchange Rate today : Dollar to Naira Black Market Exchange Rate Today. www.brandnewsday.com

The latest news on the Dollar to Naira exchange rate today, 16th of October 2021, Dollar to Naira black market exchange rate.

Brand News Day Nigeria has gathered that official dollar to the naira exchange rate in Nigeria today including the Black Market rate, Bureau De Change (BDC) rate, and the CBN exchange rate today.

Dollar to Naira exchange rate today 16th of October 2021, the black market rate can be accessed below as obtained by our correspondent.

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The US dollar to naira maintains its actual exchange rate at the parallel market, dollar to naira black market exchange at N572 today.

How Much Is Dollar To Naira CBN Exchange Rate Today?

As of yesterday, the CBN Exchange rate, the US dollar was was buying at 409.1, while selling at 410 at the official exchange rate.

While for October 16, 2021 dollar to naira official exchange rate: 1 dollar to naira is yet to be published by the apex bank as of the time of this writing.

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at N….. dollar on Saturday, 16 October 2021, after it closed at N415.07 per $1 on Friday, 15 October 2021. This represents a change of -1.66%.

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How much is the exchange rate of the Dollar to Naira in the Black Market today?

The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).

LAGOS PARALLEL MARKET RATES October 16, 2021 (BLACK MARKET): dollar to naira exchange rate today black market.

READ: CBN Governor Decides Allocation For Forex Demands Exceeding Approved Limits

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October 16 dollar to naira black market exchange rate: 1 dollar to naira = N572

Dollar To Naira CBN Rate, 16 Oct 2021: Dollar To Naira Black Market Rate

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, Brand News Day 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.

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Brand News Day Nigeria reports that in the black market, the players buy a dollar for N567 and sell for N572 on Saturday morning, October 16, 2021, after they bought N567 and sold N572 the previous day. This means dollar to naira changed its position from the previous day.

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