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Dollar To Naira Black Market Exchange Rate Today 31st October 2022

The Nigeria national currency, Naira continued in its downward trends at the beginning of trading on Monday October 31st 2022.

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

The Nigeria parallel market better known as Black Market dollar exchange rate today) to the Nigerian Naira is as follows: 

October 31st dollar to naira black market exchange rate: $1 dollar to naira = ₦800

Dollar to Naira (USD to NGN)    Black Market Exchange Rate Today

Buying Rate    790

Selling Rate    800

The local currency opened at N785.00 per $1 at the parallel market otherwise known as the black market today Monday, October 31, 2022

Although the dollar to naira opened in the parallel market at ₦785 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.

However, the announcement made by the CBN to redesign the higher notes has also contributed to the downward trends in the black market. 

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Damilare Bankole

Managing Editor, Lagos Post Online. Damilare is a disciplined tech enthusiast and media entrepreneur with interest and unparalleled passion for model Web and app design technology. He is a firm believer in the meaningful role research and innovation can play in addressing economic issues across industries and sectors. He's passionate about online Journalism. Damilare is also a Photographer. M: +2348025837037 E: lagospostng@gmail.com

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