Business & Economy

Dollar To Naira CBN Rate Today, 23 Oct 2021: Dollar To Naira Black Market

The latest news on the US Dollar to Naira exchange rate today, 23 October 2021, Dollar to Naira black market exchange rate today has been obtained.

Brand News Day Nigeria has obtained the 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.

Black Market Dollar To Naira Exchange Rate for 23rd October can be accessed below:

Advertisement

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

October 23 dollar to naira official exchange rate: $1 dollar to naira

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 ₦…. per dollar on Saturday, 23 October 2021, after it closed at ₦415.07 per $1 on Friday, 22 October 2021. This represents a change of 0.00%.

READ: Pronouns And Their Intricacies – Ganiu Bamgbose, PhD

Advertisement

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 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, Saturday, 23 October 2021, in Lagos Nigeria after it closed N572.00 per $1 on Friday, 22 October 2021.

Advertisement

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, Brand News Day Nigeria 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.

Brand News Day Nigeria reports that in 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.

Advertisement

IMPORTANT NOTE: Please note that the exchange rate changes hourly… it depends on the volume of dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦573 and the price can change (high or low ) within hours.

Facebook Comments
Brand News Day

Recent Posts

Apple Unveils iPhone 17 Air, Slick, Slimmer Than Previous Models (PHOTOS)

Apple Inc is set to present a slimmer iPhone 17 Air model, marking a potential…

2 weeks ago

Six-Year-Old Ella Shoots, Kills American Police Officer In Mother’s Defense

A six-year-old girl, Ella, fatally shot a 28-year-old American police officer last month after witnessing…

2 weeks ago

LIRS Urges Taxpayers To Meet March 31 Deadline For Annual Tax Return Submission

The Lagos State Internal Revenue Service (LIRS) reminds all individual taxpayers, including self-employed individuals, those…

3 weeks ago

Stanbic IBTC Bank Partners Autochek To Boosts Car Ownership, Disburses N4Bn

Stanbic IBTC Bank, a prominent financial institution in Nigeria, has partnered with Autochek, an innovative…

3 weeks ago

Stanbic IBTC PMI®: Output Growth Accelerates To Fastest In Just Over One Year

The headline figure derived from the survey is the Stanbic IBTC PMI® - Purchasing Managers’…

3 weeks ago

Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions…

3 weeks ago

This website uses cookies.