Business & Economy

Dollar To Naira CBN Rate Today, 25 Oct 2021: Dollar To Naira Black Market

The latest news on the US Dollar to Naira exchange rate today, 25 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 25th October can be accessed below:

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Dollar To Naira CBN Rate Today, 25 Oct 2021: Dollar To Naira Black Market

October 25 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 ₦414.05 per dollar on Monday, 25 October 2021, after it closed at ₦415.07 per $1 on Friday, 25 October 2021. This represents a change of -0.01%.

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

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LAGOS PARALLEL MARKET RATES October 25, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

Dollar To Naira Exchange Rate Today 25 October 2021 (Black Market Rate)

October 25 dollar to naira black market exchange rate: $1 dollar to naira = ₦570

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N570.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 25 October 2021, in Lagos Nigeria after it closed N574.00 per $1 on Friday, 22 October 2021.

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Note: dollar to naira exchange rate has stabilized at N570-575 per $1 since Monday, October 11. This is coming after CBN vs Aboki FX clash over the dollar to naira black market exchange rate.

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 25, 2021, after they bought N568 and sold N573 the previous day.

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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

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