Latest US Dollar To Naira Black Market Rates Today, 12 August 2022

Latest Dollar To Naira Exchange Rate

Black market dollar to naira exchange rate today 12 August 2022 can be accessed below.

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 August 12, 2022 (BLACK MARKET): dollar to naira exchange rate today black market

August 12 black market dollar to naira exchange rate: $1 dollar to naira = ₦685

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 680
Selling Rate 685

The local currency opened at N685.00 per $1 at the parallel market otherwise known as the black market today Friday, 12 August 2022, in Lagos Nigeria, after it closed at N685.00 per $1 on Thursday, 11 August 2022.

Even though the dollar to naira opened in the parallel market at ₦685 per $1 today, Brand Spur Nigeria reports that 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.

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Newsone Nigeria reports that on the black market, the players buy a dollar for N680 and sell for N685 on Friday, August 12, 2022, after they bought N680 and sold for N685 on Thursday, 11 August 2022.

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 ₦685 and the price can change (high or low) within hours.

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.