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

9 June 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, Wednesday, June 8th, 2022, the official rate for $1 to naira is 420.15/$1.

According to statistics received from the FMDQ, where the naira is legally exchanged, the exchange rate between the naira and the US dollar began at 420.15 to a dollar on Wednesday, June 8th, after closing at 420.75 to a dollar on Tuesday, June 7th, 2022.

LATEST: CBN Reveals Why Naira Notes Will Be Out of Circulation


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 Wednesday, June 8th 2022, participants in the Lagos Parallel Market (Black Market) buy a dollar for N585 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 rate of the dollar to the naira

The current buying rate is 585, while the current selling rate is 610.

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


Trading at the NAFEX official window

On June 8, 2022, the naira and the US dollar exchange rate started at 420.15/$1 and concluded at 420.25/$1.
With a daily turnover of $82.60 million and a change of -0.12 percent.

According to FMDQ statistics, the forward rate reached a high of 452.55 and a low of 419.98.


Spot rate: The dollar reached a high of 444.00 and a low of 413.00 against the 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.



Follow us on Facebook

Post Disclaimer

The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.

You may also like