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Dollar To Naira: Naira Exchanges N740/$1 At Black Market

The exchange rate between Nigeria’s national currency, the naira, and the US dollar continued to plummet to N740/$1 on the black market, representing a depreciation of 0.68% on Tuesday morning, 4th October 2022, compared to N735/$1 recorded on Friday, last week. 

Dollar to Naira Black Market rate today 4th October 2022

This is according to information obtained from black market traders who spoke to Nairametrics. 

Dollar to Naira Black Market rate today 4th October 2022

Meanwhile, the exchange rate between the naira and US Dollar at the official market maintained its position as it closed at N437.03/$1 on Friday, 30th September 2022, the same as recorded in the previous session. 

A sum of $45.89 million was traded on Friday, 30th September 2022, a massive decline when compared to $223.3 million that was traded in the previous session.  

Dollar to Naira Black Market rate today 04 October 2022

BuyingN740/$
SellingN725/$1 to N730/$1

Note that the Central Bank of Nigeria, CBN, does not recognise black market trading and has informed the general public to approach their bank if they need dollars.

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