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

Thu, Jan 27, 2022

**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**

Read Ejes Gist News latest updates on Black Market Dollar to naira exchange rate 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

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.

How much is exchange rate of Dollar to Naira in Black Market today?

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 Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate 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 $36 million per day, or N14.9 billion at the current exchange rate of N416/$.