Naira Gains Massively At Parallel Market Against Dollar

Naira Gains Massively At Parallel Market Against Dollar

The Local currency Naira has gained massively at the parallel market, also known as the black market for the first time in 2022 with a new exchange rate emerging.

Flippstack understands that the Nigerian official currency, Naira has gained against the dollar for the first time in the new year, days after it fell for the first time this year after maintaining N570/per $1 at the black market since the beginning of the year.

The naira has gained against the United States dollar at the black market for the first time since the start of the new year 2022, exchanging at N565/per $1, days after it fell for the second time to exchange at N570 per dollar to naira.

According to reports reaching us, the Ikeja Parallel market, Dollar opened at N565.00 per $1 at the parallel market also known as the black market, today, Saturday, 15th January 2022, after it closed N568.00 per $1 on Friday 14th January 2022. which represents a total change of $3.

Even though the dollar to naira opened in the parallel market at ₦565 per $1 today, the Central Bank of Nigeria (CBN) does not recognize 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.

Meanwhile, other reports coming from the Ajah Lekki Parallel market, Naira opened at N564.00 per $1 at the parallel market also known as the black market, today, Saturday, 15th January 2022, in Lagos Nigeria, after it closed N568.00 per $1 on Friday, 14th January 2022. which represents a total change of $4.

Disclaimer: Flippstack does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

Naira Gains Massively At Parallel Market Against Dollar