As of today, Saturday, December 17, Naira remained stable against the US dollar at the parallel market ( black market), trading at an average of N745/$1, same as recorded on Friday.
This is according to information from black market traders who spoke to Newsflash Nigeria.
On the flip side, the exchange rate P2P cryptocurrency exchange depreciated by 0.14% to trade at a minimum of N749.96/$1 on Saturday morning, from N748.9/$1 recorded during the previous trading session.
Also, the exchange rate at the official Investors and Exporters window depreciated by 0.94% to close at N450.58/$1 on Friday, 16th December 2022 compared to N446.38/$1 recorded in the previous trading session.
Meanwhile, Forex turnover increased by 96.7% to $141.92 million on Wednesday, as against $72.15 million that was traded in the previous session. Nigeria’s external reserve remains at $39.96 billion as of 9th December 2022.
Currency traders are known as Bureaux De Change operators (BDCs) in the Ikeja area of Lagos, with the buying rate of the greenback at N730 and the selling price at N748 per dollar on Friday 16th December 2022.
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N730
Selling Rate N748
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
