Underwritten by Tristan James Jr.
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦414.18/$1 on Wednesday October 20, after it closed at ₦414.73 to a $1 on Monday, 18 October 2021.
No Forex rate was shown for Tuesday, October 19, 2021, due to the public holiday declared by the federal government.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Wednesday, October 20, opened N575.00 to a $1, according to sources at Bureau De Change (BDC).
“The official rate today, Wednesday October 20, for $1 dollar to naira = ₦414.18/$1″
INSIDERNOTES
The exchange rate between the naira and the US dollar opened at ₦₦414.18/$1 on 20th October 2021 as against how it closed at ₦414.46/$1 on Monday 18th October 2021, showing a decline at -0.07.
Please note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
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