The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows:
For the Lagos market (black market).
March 8th Dollar to Naira black market exchange rate: $1 dollar to naira = ₦577
The local currency opened at N577.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 9 March 2022, in Lagos Nigeria, after it closed N576.00 per $1 on Monday, 7 March 2022.
Even though the dollar to naira opened in the parallel market at ₦577 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 is the only known exchange.
In the black market, the players buy a dollar for N572 and sell for N577 on Tuesday morning, March 8, 2022, after they bought N572 and sold for N577 on Monday, 7 March 2022, Newsonline reports.
The USD started this week at ₦576 in Parallel Market also known as Black Market on Monday, March 7, 2022 in Lagos Nigeria, after it opened at 575 last week Monday, February 28, 2022.
Read the Original article on Newsonline here
