The Latest Forex News in Nigeria on Dollar to Naira rate at the official and black market exchange rate January 27th, 2022 can be accessed here on Ejes Gist News
This page covers the following Questions
- How Much Is Naira Per Dollar Today?
- How Much Is Dollar In Black Market Today?
- What is the Black market exchange rate in Nigeria Today?
Important Note : Please note that the exchange rate changes hourly. It depends on the volume of dollars available and the demand. What it means is that you can buy or sell 1 dollar at 435 and the price can change (high or low) within hours.
How Much is Dollar to Naira Official Exchange Rate Today?
The official rate today, Thursday, January 27th 2022,1 United States Dollar equals 415.32 Nigerian Naira.
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦415.32/$1 on Thursday 27th , after it closed at ₦415.30 to $1 on Wednesday, January 26th, 2022.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦562 and sell at ₦568 on Thursday, January 27th 2022, according to data obtained from Bureau De Change (BDC).
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Please be aware that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), and has advised individuals interested in trading in foreign exchange to contact their respective banks.
Trading at the official NAFEX window
The exchange rate between the Nigerian Currency and the US dollar opened at ₦415.12/$1 on 19th January 2022 and closed at ₦415.30/$1. Showing a change of 0.08%.
Meanwhile, on Wednesday, the international oil price surpassed $90 per barrel, causing Nigeria to lose over N14.9 billion per day.
Brent, the oil benchmark for Nigerian oil, closed at $90.20 per barrel on Wednesday, according to Reuters data, triggered by potential sanctions on Russia over the Ukraine invasion.
It’s also expected to be a catalyst for higher crude prices closer to $100 in the coming days.
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The increase in oil prices is a huge missed opportunity for Nigeria, which has the world’s tenth best oil reserves but is still struggling to meet monthly oil production cuts.
Nigeria’s OPEC+ quota production quota, which covers only crude oil and not condensates, is set at 1.614 million barrels per day, while the country’s production capacity is closer to 2.2 million barrels per day, according to Nigeria’s Oil Minister, Timipre Sylva.
Unfortunately, Nigeria’s production was only 1.2 million barrels per day in December 2021, falling 400,000 barrels per day short of the OPEC+ quota allowance.
Based on $90 per day, the 400,000 per day production shortfall could have earned Nigeria over $36 million per day, or N14.9 billion at the current exchange rate of N416/$.
Black Market Dollar To Naira Exchange Rate Thursday
In fact, if the money on the table to be taken by NNPC is realized, Nigeria will have easily covered the N270 billion in monthly subsidies expected to be paid.
NNPC presented a bill of N3 trillion to the Federal Executive Council (FEC) on Wednesday for subsidy payment for the months of July to December in 2022.
The FEC, which met at the presidential villa in Abuja and was presided over by President Muhammadu Buhari, considered the request and said it would write to the National Assembly soon.
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- Black Market Dollar To Naira Exchange Rate
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How much is dollar to naira today Thursday January 27th, 2022? .
The dollar to naira today is ₦415.32/$
How much is 1000 dollars in naira Thursday January 27th, 2022?
According to data obtained by to Ejes Gist News 1000 dollars in is ₦415,320.00/$
How much is 1 dollar in naira today Thursday January 27th, 2022?
1 dollar in naira is ₦415.32/$ according to data obtained from I & E window.
How much is 100 dollars in naira for today Thursday January 27th, 2022?
100 dollars in naira is ₦41,532.00/$ this according to data obtained by correspondent
Dollar To Naira Exchange Rate
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