Black Market Dollar To Naira Exchange Rate Friday, January 14, 2022

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 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