Business & Economy

Dollar To Naira Black Market Exchange Rate Today 9 November 2021

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

The latest news on the US Dollar to Naira exchange rate today, 9th November 2021, Dollar to Naira today (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 9th November 2021 can be accessed below:

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How Much Is Dollar To Naira Today Official Rate?

Dollar to Naira rate today 9th November 2021 has been published by this reporter. Also, you can also view the dollar to naira official exchange rate today: $1 dollar to naira =₦413.57$1.

The exchange rate between the Naira to the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira ₦413.57$1 on Tuesday 9th November, after it closed at ₦414.55 to a $1 on Monday, 8th November 2021.

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

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Tuesday, November 9th sells at N570/$1, according to sources at Bureau De Change (BDC).

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Notably, the naira remained flat against the US dollar at the parallel market on Monday to close at N570/$1, the same as recorded at the close of trading activities on Wednesday, 3rd November 2021. The exchange rate has remained flat at N570/$1 since 1st November 2021. This is according to information obtained by Brand News Day Nigeria from BDC operators in Lagos

However, the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market) alongside its operators, as it has directed individuals who want to engage in Forex to approach their respective banks.

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦413.57 /$1 on 9 November 2021 after closing at ₦414.55/$1. Showing a change -0.11.

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According to data from FMDQ, forex turnover stands at $172.25 million.

What You Should Know

Dollar To Naira exchange rate at N444 to $1 was the highest official rate recorded during intra-day trading before it settled at N414.55/$1, while it sold for as low as N404/$1 during intra-day trading. The highest rate recorded during the day has been the same in the past ten trading sessions.

Forex turnover at the official window surged by 73.7% to $172.25 million on Monday. According to data obtained from FMDQ, forex turnover at the I&E window increased from $99.14 million recorded on Friday 5th November 2021 to $172.25 million on Monday 8th November 2021.

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