Price Of Dollar In The Parallel Market For Today May 19th 2022

DISCLAIMER: please note that the 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 in this article, and the exchange rate changes hourly, the price depends on the volume of dollars available and the Demands.

Here is How much a dollar is to naira today in black market:

Even though the dollar to naira opened in the parallel market at ₦597 per $1 today, the Central Bank of Nigeria (CBN) does not recognize the parallel market, which is known as the black market.

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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.

Reports have it that the black market players buy one dollar for N593 and sell for N597 on Thursday, May 19, 2022, after they bought N593 and sold for N597 on Wednesday, 18 May 2022.

According to multiple reports, the USD started this week at ₦595 in Parallel Market also known as Black Market on Monday, May 16, 2022, in Lagos Nigeria, after it opened at 588 last week Monday, May 9, 2022.