FOREX CRISIS: Naira Nears N1000/1$, Raises Concerns Amid CBN Probe

2nd February 2022: See How Much Dollar Exchange To Naira Today

by Victor Ndubuisi
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We bring you yet again news about the Dollar to Naira rate at the official and black market exchange rate.

Follow Anaedoonline.ng update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Tuesday, February 1st, 2022, for $1 dollar to naira = ₦415.18/$1.

See How Much Dollar Exchange To Naira Today 21 December 2021

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.18/$1 on Tuesday 1st, after it closed at ₦415.33 to a $1 on Monday, 31st January 2022.

Anaedoonline.ng reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.

How much is a dollar to naira today in the black market?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N560 and sell at N565 on Tuesday February 1st 2022, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

See How Much Dollar Exchange To Naira Today 24 December 2021

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦415.18/$1 on 1st February 2022 and closed at ₦415.75/$1. Showing a change of 0.10%.

According to data from FMDQ, forex daily turnover stands at $165.30 million.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦408.00

A spot exchange rate is the current price level in the market to directly exchange one currency for another, for delivery on the earliest possible value date.

 

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