According to data published on the FMDQ Security Exchange, the official forex trading portal, the Naira began at 414.05 per dollar on Thursday, September 30, 2021, after closing at 414.73 per $1 on Wednesday, September 29, 2021.
In the parallel black market, the dollar to naira exchange rate is
The CBN does not recognize the parallel market, sometimes known as the black market, despite the fact that the dollar opened in the parallel market for $575 for $1 today. As a result, anyone in need of currency should contact their bank, with the I&E window being the sole known exchange, according to the apex bank.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said during a press briefing on September 17, 2021.