The exchange rate of the US Dollar to the Nigerian Naira on the black market experienced a slight shift from what it was on Friday.
According to information obtained from Bureau De Change (BDC) operators, the worth of a Dollar to the Naira in the black market in Abuja as of today, Monday February 13, 2023, is ₦760, while Kano and Lagos exchange rate stands at ₦751 respectively.
Meanwhile, the European Euro/Naira traded at ₦806 buy and ₦796 sell respectively in the black market.
Similarly, the British Pound To Naira Exchange Rate is ₦930 buy, while you can sell a pound for ₦925 sell at the black market rate.
Black market according to Investopedia.com is an economic activity that takes place outside government-sanctioned channels.
It is an illegal market where transactions usually occur “under the table” to let participants avoid government price controls or taxes.
The goods and services offered in a black market can be illegal, meaning their purchase and sale are prohibited by law, or they can be legal but transacted to avoid taxes.
Illegal markets are also known as illegal markets, shadow markets, or underground markets.
Dollar to Naira Rate for Past 7 Days
| Date | Buy | Sell |
| February 12, 2023 | 755 | 749 |
| February 11, 2023 | 755 | 745 |
| February 10, 2023 | 755 | 751 |
| February 9, 2023 | 756 | 752 |
| February 8, 2023 | 757 | 753 |
| February 7, 2023 | 756 | 751 |
| February 6, 2023 | 751 | 756 |
