Daily, Nigerians check the exchange rate at the parallel market to see if there are changes. While millions are crying that the economy is bad and the naira is losing value, many are benefiting from the pain. That said, as of today, October 16th, 2023, the dollar is exchanged at 1 USD to 1047 NGN in the black market.

How Much Is Dollar to Naira Today in the Black Market?

The rate at which the dollar is being exchanged for the naira depends on lots of factors, including global economic trends, market fluctuations, and public developments. The dollar is being exchanged at ₦1047 and ₦1040, depending on this report. 

However, market analysts are still expecting some change to roll out following the appointment of the new CBN governor last month. 

How Much Is Naira to Dollar Today in the Black Market Today?

Reports, according to Investors King, show that the naira to a dollar at the black market today exchanged for ₦1047 and sold for ₦1040.

How Much Is Dollar to Naira Today in the Black Market Today?

Today, October 16th, 2023, people who went to buy dollars reported that they bought 1 USD for ₦1047 and sold it for ₦1040. Comparing this to last Wednesday, it shows that the naira lost value again as it sold at ₦1010 and was bought for ₦1005 last week.