Black Market Dollar To Naira Exchange Rate Thursday, 27 January 2022

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Dollar to Naira Black Market Exchange Rate Today , Black Market Dollar To Naira Exchange Rate Today Naira to Dollar

The on Dollar to Naira rate at the official and black market exchange rate January 27th, 2022 can be accessed here on Ejes Gist News

 

Read Ejes Gist News latest updates  on Black Market today, Bureau De Change (BDC) rates, as well as the official dollar rates  and CBN rates.

 

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This page covers the following Questions

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.

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The exchange rate for a 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).

Today

(USD to NGN) Today
Buying Rate 562
Selling Rate 568

 

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.

Also Read: Bitcoin to Naira Exchange Rate Today January 27th | NGN to BTC

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 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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Related Questions:

The is ₦415.32/$

According to data obtained by  to Ejes Gist News 1000 dollars in is ₦415,320.00/$

1 dollar in naira is ₦415.32/$ according to data obtained from I & E window.

100 dollars in naira is ₦41,532.00/$ this according to data obtained by correspondent

 

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That’s  Black Market in Nigeria. Always visit this website for daily USD to Naira Exchange Rate

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