The local currency opened at N750.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 24 March 2023, in Lagos Nigeria, after it closed at N750.00 per $1 on Thursday, 23 March 2023.
IMPORTANT NOTE: Please note that the exchange rate changes hourly.
It depends on the volume of dollars available and the Demands.
What this means is that one can buy or sell 1 dollar at ₦750 and the price can change (high or low) within hours.
However, 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.
