BREAKING: Naira Increases Seriously As Dollar Crashes At Black Market

Naira has seriously crashed with dollar decreasing at black market.

Onyxnewsng reports that the American official currency, dollar crashed at the parallel market also known as the black market on Tuesday, November 2, trading at ₦565 per a dollar with Bureau De Change (BDC) operators buying at ₦560 per dollar on Tuesday morning in the Lagos market, according to Onyxnewsng reporters who enquired from the market earlier on Tuesday.

Onyxnewsng reports that while BDC operators popularly known as Abokis in the parallel market (black market), bought dollar at ₦560 per a dollar and sold at ₦565 per a dollar on Tuesday morning, at the official market, 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 ₦414.26 on Tuesday morning after closing ₦414.98 on Monday. This represents a change of -0.03%.

How much is exchange rate of Dollar to Naira in Black Market today?: Lagos parallel market (black market dollar exchange rate today)

Onyxnewsng reports that the black market, the players buy a dollar for ₦560.00 and sell for ₦566.00 on Tuesday morning, November 2, 2021 after they bought N560 and sold N569 last Friday, 29 October 2021.

Even though the dollar to naira opened in the parallel market at ₦566 per $1 today, 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.

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 ₦565 and the price can change (high or low ) within hours.