Black Market Dollar To Naira Exchange Rate Today 16th May 2022

Black Market Dollar To Naira Exchange Rate Today 16th May 2022

Welcome to Flippstack, we have compiled dollar to naira exchange rates in Nigeria today including the Black Market rates and Bureau De Change (BDC) rate for today Monday 16th May 2022

Note: 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 ₦575 and the price can change (high or low) within hours.

What is 1 dollar to naira Exchange Rate in Black Market Today?

The Nigeria black market dollar exchange rate today to the Nigerian Naira is as follows:

LAGOS PARALLEL MARKET RATES Monday, May 16th, 2022 (BLACK MARKET)

How much is the exchange rate of Dollar to Naira in the Black Market today?

The exchange rate of Dollar to Naira in the Parallel Market (Aboki Dollar Rate) Today Monday 16th, 2022 = ₦585/$1

The Lagos Parallel Market (Black Market) players buy a dollar for ₦585 and sell at ₦600 on Monday, May 16th, 2022, according to data obtained from Bureau De Change (BDC).

The local currency Naira depreciates massively against the dollar as the exchange rate for today opens at ₦585.00 per $1 at the parallel market otherwise known as the black market (Aboki Dollar), today, Monday, 16th May 2022, in Lagos Nigeria, compared to ₦580 per dollar it closed at the end of last week Friday 13th May 2022.

Even though the dollar to naira opened in the parallel market at ₦585 per $1 today, Flippstack reports that 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.

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.