Latest Forex News in Nigeria on Dollar to Naira rate at the official and black market exchange rate Today January 6, 2022 can be accessed here on Ejes Gist News
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Thursday January 6th 2022, for $1 dollar to naira = ₦417.25/$1.
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 ₦ 417.25/$1 on Thursday 6th, after it closed at ₦416.00 to a $1 on Wednesday, 5th January 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 N565 and sell at N567 on Thursday, January 6th 2022, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise 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 Nigerian Currency and the US dollar opened at ₦417.25/$1 on 5th January 2022 and closed at ₦416.00/$1. Showing a change of -1.58%.
According to data from FMDQ, forex turnover stands at $114.95 million.
IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of Dollars available and the Demands. What it means is that…you can buy or sell 1 dollar at ₦435 and the price can change (high or low) within hours.
Meanwhile, In Q3 2021, the amount of foreign exchange coming into Nigeria increased by 64% to $30.18 billion. When compared to $18.4 billion the previous quarter. In the review period, there was a surge attributed to newly acquired federal government loans.
According to the Central Bank of Nigeria’s (CBN) statistical bulletin for Q3 2021, this is the case.
Read Also : Breaking: Naira gains massively at official Window as black market rate remains unchanged
Nigeria received $30.18 billion in dollar inflows in the third quarter of 2021. This the highest quarterly inflow since Q1 2020, before the impact of the covid-19 pandemic. Similarly, when compared to the $26.47 billion recorded in the same period of 2020, the inflow increased by 14%.
The Nigerian government obtained two external loans totaling $7.34 billion during the period under review. The $3.34 billion in IMF Special Drawing Rights (SDRs) in August and a $4 billion Eurobond in September 2021.
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