This is the news about the Dollar to Naira Exchange rate at the official and black market exchange rate.
GoldenNewsNg keeps update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
The official rate today, Monday, March 8, 2022, for $1 dollar to naira = ₦415.84/$1.
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 ₦415.84/$1 on Monday 7th, after it closed at ₦416.67 to a $1 on Friday, 4th March 2022.
GoldenNewsNg 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 N572 and sell at N577 on Monday, March 8th 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.
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦415.84/$1 on 8th March and closed at ₦416.34/$1.
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.
GTCO Announces N221.5bn Profit Before Tax
Guaranty Trust Holding Company Plc, (GTCO Plc) has released its audited financial report for the year ending Dec. 31, 2021.
The group, in a statement on Sunday, said, its company released the financial statements to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) declaring a profit before tax of ₦221.5 billion.
This represents a dip of 7.0 percent from ₦238.1 billion achieved in December 2020.
The holding company’s gross earnings also stood at N438.6 billion, slightly lower than N452.2 billion achieved in 2020. Interest Income amounted to N266.9 billion from N30.7 billion, while interest expense went down to N46.3 billion as against N47.1 billion in 2020.
