Black Market Dollar to Naira exchange rate today 14 January 2022 has emerged and can be accessed below.
January 14 dollar to naira official market exchange rate: $1 dollar to naira =₦417.25
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
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 ₦416.25 per dollar on Friday, 14 January 2022, after it closed at ₦416.00 per $1 on Thursday, 13 January 2022. This represents a change of -0.37%.
How much is Black Market Dollar to Naira exchange rate today?
January 14 dollar to naira Black Market exchange rate: N567.00 per $1
The Nigerian parallel market (black market dollar exchange rate today) to the dollar exchange rate is as follows.
LAGOS PARALLEL MARKET RATES January 10, 2022 (BLACK MARKET): dollar to naira exchange rate today black market.
Lagos parallel market (black market dollar exchange rate today)
Black Market Dollar To Naira Exchange Rate Friday, January 14, 2022
The local currency opened at N567.00 per $1 at the parallel market otherwise known as the black market, today, Thursday, 14 January 2022, in Lagos, Nigeria, after it closed N570.00 per $1 on Wednesday, 12 January 2022.
Even though the dollar to naira opened in the parallel market at ₦567 per $1 today, Brand News Day Nigeria gathers 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.
BrandNewsDay reports that at the black market, the players buy a dollar for N560 and sell for N567 on Friday morning, January 14, 2022, after they bought N565 and sold for N570 on Thursday morning, January 13.
Meanwhile, BrandNewsDay Nigeria reports that the USD started this week at ₦570 in Parallel Market also known as Black Market on Monday, January 10, 2022, in Lagos Nigeria, after it opened at ₦560 last week Monday, January 3, 2021.
BrandNewsDay reports that at the black market, the players buy a dollar for N562 and sell for N567 on Saturday morning, January 8, 2022, after they bought N562 and sold for N567 on Friday morning, January 7.
What You Should know
- Dollar to Naira exchange rate rallied between 560 to 567 last week
- The black market exchange rate slightly varies from one seller to another, depending on the market location, especially the Lagos market
- Notably, the dollar to Naira exchange rate is determined by players (BDC operators) in the black market across the country, as the demand by investors determine the rate at which the US dollar to naira is exchanged for the inter trading day