This is the latest news on the Dollar to Naira exchange rate, both official and black market.
Anaedoonline.ng keeps you up to date on Nigeria’s official dollar rate, as well as Black Market, Bureau De Change (BDC), and Central Bank of Nigeria (CBN) prices.
What Is Today’s Official Dollar To Naira Exchange Rate?
Today, Tuesday, April 12th, 2022, the official rate for $1 to naira is 416.17/$1.
The exchange rate between the naira and the US dollar began at 416.17/$1 on Tuesday, April 12th, according to data acquired from the FMDQ, where Naira is legally exchanged. It finished at 417.00 to a dollar on Monday, April 11th, 2022.
According to Anaedoonline.ng, the dollar to naira exchange rate has remained stable at N416.69 per dollar since the start of the year.
On the black market, how much is a dollar worth in naira today?
According to reports at the Bureau De Change, on Tuesday, April 12th 2022, participants in the Lagos Parallel Market (Black Market) buy a dollar for N570 and sell it for N585 (BDC).
Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and has advised anyone interested in trading Forex to contact their local banks.
Today’s black market rate of the dollar to naira
The buying rate for the US dollar is 570, while the selling rate is 585.
Trading at the NAFEX official window
On April 12th, 2022, the naira and the US dollar exchange rate began at 416.17/$1 and concluded at 416.62/$1. With a daily turnover of $144.29 million and a change of -0.09%.
According to FMDQ statistics, the forward rate has fluctuated between 453.15 and 423.85.
Spot rate: The dollar sold for as much as 444.00 naira and as little as 410.00 naira.
The current price level in the market for immediately exchanging one currency for another for delivery on the earliest feasible value date is known as the spot exchange rate.
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