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.
December 7 dollar to naira official market exchange rate: $1 dollar to naira =₦413.63
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
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 ₦413.63 per dollar on Tuesday, 7 December 2021, after it closed at ₦415.00 per $1 on Monday, 6 December 2021. This represents a change of -0.05.
How much is the exchange rate of Dollar to Naira in Black Market today?
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
LAGOS PARALLEL MARKET RATES December 7, 2021 (BLACK MARKET): dollar to naira exchange rate today black market
December 7 dollar to naira black market exchange rate: $1 dollar to naira = ₦565
Lagos parallel market (black market dollar exchange rate today)
The local currency opened at N565.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 7 December 2021, in Lagos Nigeria, after it closed N565.00 per $1 on Monday, 6 December 2021.
Even though the dollar to naira opened in the parallel market at ₦565 per $1 today, Brand Spur Nigeria 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.
Brand Spur Nigeria reports that at the black market, the players buy a dollar for N560 and sell for N565 on Tuesday morning, December 7, 2021 after they bought N560 and sold for N565 on Monday morning, December 6, 2021.
Meanwhile, Brand Spur Nigeria reports that the USD started this week at ₦565 in Parallel Market also known as Black Market on Monday, December 6, 2021 in Lagos Nigeria, after it opened at ₦558 last week Monday, November 29, 2021.
Disclaimer: Brand Spur Nigeria 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.