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Economy/Stock Market Update

Black market Naira to Dollar Exchange Rate today 7 May 2022

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Black market naira to dollar exchange rate today 7 May 2022 can be accessed below as curated by ENigeria Newspaper.

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 ₦588 and the price can change (high or low) within hours.

How much is naira to dollar today in black market?

Black market naira to dollar exchange rate:

ENigeria Newspaper is reporting that the Nigeria parallel market (black market naira exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).

LAGOS PARALLEL MARKET RATES May 7, 2022 (BLACK MARKET):

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Naira to dollar exchange rate today black market (Aboki dollar rate)

Naira to dollar exchange rate for Saturday, May 7 goes for [N584 to buy and N588 to sell].

Lagos parallel market (black market naira exchange rate today: $1 dollar to naira today black market)- Aboki dollar rate
The local currency opened at N588.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 7 May 2022, in Lagos Nigeria, after it closed at N585.00 per $1 on Friday, 6 May 2022.

Black market Naira to Dollar Exchange Rate today 7 May 2022

Nigerian-black-market-naira-dollar-to-naira-exchange-rate-today

Even though the naira to dollar opened in the parallel market at ₦588 per $1 today, ENigeria Newspaper is reporting 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.

On the black market, the players buy a dollar for N584 and sell for N588 on Saturday, May 7, 2022, after they bought N584 and sold for N588 on Friday, 6 May 2022, ENigeria Newspaper.

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Meanwhile, ENigeria Newspaper reports that the USD started this week at ₦589 in Parallel Market also known as Black Market on Monday, May 2, 2022, in Lagos Nigeria, after it opened at 589 last week Monday, April 25, 2022.

 

Disclaimer: ENIGERIA NEWSPAPER 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.

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