Dollar to Naira Exchange Rate on Black Market Today, May 17, 2022.
Get reliable and update on Dollar rates on black market Bureau De Change (BDC) today May 17, 2022 on Olainfo.
How Much Is Dollar to Naira Exchange Rate at Black Market Today May 17, 2022
Olainfo has learnt that, dollar to naira latest exchange rate at parallel market or the black market, has heightened fears of a further devaluation of the nation’s currency.
According to Punch Newspaper, dollar is now being exchanged at ₦600/$1. The report states that the current dollar exchange rate to naira was confirmed by two Bureau de Change Operators at Abuja and Lagos market respectively.
The rate wasv₦599/$ around 10am to 11am before it rose to ₦600/$ around 3pm to 5pm on Monday according to one of the Abuja operators who confirmed to the Punch.
Dollar to Naira Exchange Rate at The Official Market Today May 17, 2022
The official rate of dollar to naira today, Tuesday, May 17, 2022 is ₦415.75/US$1.
Dollar opened at ₦415.75/$1 on Tuesday May 17, 2022 after it closed at ₦415.30/$1 on Monday.
Olainfo has learnt, that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar at the official market since the beginning of the new year.
Note: 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.