Dollar To Naira CBN Rate, 18 Oct 2021: Dollar To Naira Black Market Rate

LAGOS PARALLEL MARKET RATES October 18, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 18 dollar to naira black market exchange rate: 1 dollar to naira = N572

The local currency opened at N572.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 18 October 2021, in Lagos Nigeria after it closed N571.00 per $1 on Friday, 15 October 2021. This represents a change of $1 from last Friday. This means dollar to naira changed its position from last week.

Dollar To Naira CBN Rate, 18th 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.

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

Even though the dollar to naira opened in the parallel market at ₦572 per $1 today, ₦572 per $1 today, Brand News Day reports that the Central Bank of Nigeria 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.

Brand News Day Nigeria reports that in the black market, the players buy a dollar for N568 and sell for N572 on Monday morning, October 18, 2021, after they bought N567 and sold N572 last Friday. This means dollar to naira changed its position from last week.

Meanwhile, Brand News Day Nigeria reports that the US Dollar trading opened 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.