Dollar To Naira Rate Today 16th January, 2024

What is the black market Dollar to Naira exchange rate today 16th January, 2024?

The parallel market also known as black market Dollar to Naira exchange rate today 16th January 2024 trades at N1265/$. This is according to parallel market operators in Lagos and Abuja.

The local currency declined further in the parallel market, owning up to its increasing demand.

In the same vein, the Peer2Peer (P2P) trading segment for the local currency saw a N5 decline against the greenback, as this morning session trades at N1275/$.

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Meanwhile, the local Naira gained massively at the official Investors & Exporters (I & E) Window yesterday.

Data from FMDQ showed that the Naira weakened to N838.95 per dollar on Monday from N890.54 per dollar on Friday.

This represents a N51.79 gain or a 5.79 per cent gain in the local currency compared to the N890.54 it closed on Friday.