Dollar To Naira Exchange Rate Today 16th February 2022 (Black Market)

Black market dollar to naira exchange rate today 16th February 2022 can be accessed below.

February 16th dollar to naira official market exchange rate: $1 dollar to naira =₦415.50

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 ₦415.50 per dollar on Wednesday, 16 February 2022, after it closed at ₦416.00 per $1 on Tuesday, 15 February 2022. This represents a change of -0.16%.

How much is the exchange rate of the Dollar to Naira in the 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 February 16, 2022 (BLACK MARKET): dollar to naira exchange rate today black market

February 16 dollar to naira black market exchange rate: $1 dollar to naira = ₦575
Lagos parallel market (black market dollar exchange rate today)

Dollar To Naira Exchange Rate Today 16th February 2022 (Black Market)

The local currency opened at N575.00 per $1 at the parallel market otherwise known as the black market, today, Wednesday, 16 February 2022, in Lagos Nigeria, after it closed N575.00 per $1 on Tuesday, 15 February 2022.

Even though the dollar to naira opened in the parallel market at ₦575 per $1 today, Infoexpert24 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.

Infoexpert24 reports that at the black market, the players buy a dollar for N570 and sell for N575 on Wednesday morning, February 16, 2022, after they bought N570 and sold for N575 on Tuesday, 15 February 2022.

Meanwhile, Infoexpert24 reports that the USD started this week at ₦575 in Parallel Market also known as Black Market on Monday, February 14, 2022, in Lagos Nigeria, after it opened at 571 last week Monday, February 7, 2022. A change of N0.

Disclaimer: INFOEXPERT24 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.