This is the Nigeria black market exchange rate for today Monday November 8, 2021.
Everyday on this blog, we update our visitors with the Nigeria black market exchange rates from dollars to Naira to help them know how the dollar is faring in the market.
Dollar to naira black market rate
The dollar to naira black market rate is often higher than the official CBN rate.
Black market money exchangers are local BDC street retailers spread across the 36 states of the country.
If you want to know the official bleack market rate, you can go to the streets.
However, the exchange rate of dollar to naira in the black market is determined by the person who has the dollar to sell for you.
You can see the exchange rate for the dollar to naira in the black market below.
Nigeria black market exchange rate for today Monday November 8, 2021.
According to sources at Bureau De Change (BDC), in the Black Market also known as parallel market, the exchange rate for a dollar to naira for today, Monday, November 8 – a dollar is bought at ₦565.00 and sold for ₦575.
You can also check the official and bank rates below.
Dollar to Naira official exchange rate for today Monday November 8, 2021.
Based on the data at the FMDQ Security Exchange where forex is officially traded, the dollar to naira official exchange rate for today November 8, 2021 opened at 1 dollar equals to ₦(yet to be disclosed) naira, after it closed at ₦414.30 naira to a 1 dollar on Friday, November 5, 2021.
The rates in CBN and other banks are as follows:
- CBN – 1$ = ₦410.37.
- Access bank – 1$ = ₦412.03.
- First bank – 1$ = ₦460.00.
- GTBank – 1$ = ₦460.00.
- Moneygram – 1$ = ₦410.50.
How to open a dollar account in Nigeria.
Requirements for Opening a Dollar Account in Nigeria.
Incase you want to open a dollar account in Nigeria; the process is almost the same as opening a new naira bank account.
However, there are some basic requirements you are supposed to meet; in order to be able to open a dollar account.
- A photocopy of a government-issued ID card. e.g; International passport, Driver’s License, Voter’s Card, National I.D. Card, or other legitimate means of identification that banks accept.
- One recent passport photograph
- Two reference forms that must be signed by owners of Current accounts in your bank.
- A utility bill (Nepa bill) not older than 3 months that carries your residential address.
Read also: How To Start An Online Business.
Banks you can open a dollar account in Nigeria.
Below are the banks you can open a dollar account in Nigeria.
- First Bank.
- Zenith Bank.
- Fidelity Bank.
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