This is the news about the Dollar to Naira rate at the official and black market exchange rate.
Read GoldenNewsNg update on the official dollar rate in nigeria 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, Friday, April 22nd, 2022, for $1 dollar to naira = ₦417.40/$1.
According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦417.40/$1 on Friday 22nd, after it closed at ₦419.50 to a $1 on Thursday, 21st April 2022.
Naija News 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 N570 and sell at N586 on Friday, April 22nd 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.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 570 |
| Selling Rate | 586 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦417.40/$1 on 22nd April, 2022 and closed at ₦418.33/$1. Showing a change of -0.28% and a daily turnover of $169.06 million.
According to data from FMDQ, forward rate went as high as ₦453.15 and as low as ₦419.98.
Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00.
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.
Nigerians Groan As Beans, Tomatoes, Yam Record 40% Price Hike
The National Bureau of Statistics (NBS) says the average prices of food items in Nigeria recorded significant increases within a one-year period spanning between February 2021 and February 2022.
According to data released by the NBS, the average cost of different beans rose by 50.1 percent from N331.48 to N 497.54 during the review period.
On a monthly basis, the price of beans recorded an increase of 3.34 per cent from N481.47 in January 2022 to N 497.54 in February 2022.
The bureau said as of February 2021, the average cost of 1kg of tomatoes was N269.18, increasing to N393.08 in February 2022 indicating 46.03 per cent increase.