BrandNewsDay Nigeria reports that Naira Gains Massively At Black Market Today, Nigeria’s official currency, Naira, gained at the parallel market also known as the black market on Wednesday, March 2, trading at ₦577 per dollar.
BrandNewsDay Nigeria understands that the massive gain is coming after the Naira closed at ₦580 per a dollar on Tuesday, March 1, 2022.
A survey conducted by BrandNewsDay Nigeria at the Bureau De Change (BDC) market in Ogba area of Lagos, Nigeria’s commercial city, on Wednesday morning, March 2, 2022, shows that the naira to usd exchanged at N577/$1, gaining from the N580 position of 1 dollars to naira it opened March 2022 with, months after usd to naira exchanged for N530/$1.
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
The local currency opened at N577.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 2 March 2022, in Lagos Nigeria, after it closed N580.00 per $1 on Monday, 1 March 2022.
Even though the dollar to naira opened in the parallel market at ₦577 per $1 today, Brand News Day 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 at the black market, the players buy a dollar for N572 and sell for N577 on Wednesday morning, March 2, 2022 after they bought N575 and sold for N580 on Tuesday, 1 March 2022.
Meanwhile, Brand News Day reports that the USD started this week at ₦576 in Parallel Market also known as Black Market on Monday, February 28, 2022, in Lagos Nigeria, after it opened at 575 last week Monday, February 21, 2022.
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