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

23 May 2022: See How Much Naira Exchange To Dollar Today

by Victor Ndubuisi
Reset keeps you up to speed 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, Friday, May 20th, 2022, the official rate for $1 to naira is 418.35/$1.

The exchange rate between the naira and the US dollar began at 418.35/$1 on Friday 20th, according to data acquired from the FMDQ, where Naira is legally exchanged, after closing at 420.33/$1 on Thursday, May 19th, 2022.

See How Much Dollar Exchange To Naira Today 18 November 2021


According to, 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 Friday, May 20th 2022, participants in the Lagos Parallel Market (Black Market) buy a dollar for N605 and sell it for N610 (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 Dollar to Naira Exchange Rate

The Buying Rate is 605, while the Selling Rate is 610.

Trading at the NAFEX official window


On May 20, 2022, the naira and the US dollar exchange rate started at 418.35/$1 and concluded at 419.02/$1. With a daily turnover of $170.58 million and a change of -0.31 percent.

See How Much Dollar Exchange To Naira Today 19 November 2021

According to FMDQ statistics, the forward rate has fluctuated between 453.35 and 416.00.


Spot rate: The dollar traded between 444.00 and 410.00 against the naira.

The current price level in the market to immediately exchange one currency for another for delivery on the earliest feasible value date is known as the spot exchange rate.



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