How the Naira is faring against the Dollar at the Official and Black markets

Reading Time: < 1 minute

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at N411.42 per dollar on Monday, August 16, 2021, after it closed at 410.80 per $1 on Friday, August 13, 2021. This represents a change of 0.04%.

Exchange Rate of Dollar to Naira in Black Market Today?

The Nigeria black market dollar exchange rate today to the Nigerian Naira is as follows:

According to, the local currency opened at N515.00 per $1 at the parallel market. Otherwise known as the black market, yesterday, Monday, August 16, 2021, in Lagos Nigeria after it closed N515.00 per $1 on Friday, August 13, 2021. This represents a change of $0 from last week.

Reports have it that the data published on, which is known as the “official black market rate“, showed that at the black market, the players buy a dollar for N508 and sell for N515 on Monday morning, August 16, 2021.

Meanwhile, Newsone Nigeria reports that the USD started this week at ₦515 in Parallel Market also known as Black Market on Monday, August 16, 2021. A change of $7 dollars compared to last Monday when it opened at N508 per dollar.