Do you want to know the black market dollar to naira exchange rate today Wednesday , January 5th 2022 Including the Official Exchange Rate in Nigeria?
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Wednesday January 5th , for $1 dollar to naira = ₦426.25/$.
According to data from the FMDQ Security, where forex is officially traded, the naira-to-dollar opened at ₦426.25/$ on Wednesday, January 5th 2022 , after closing at ₦422.67/$1 on Tuesday , January 4th, 2022.
Read : Npower Latest News Today Wednesday, 5th Jan 2022 – October, November and December Payment News
Abokifx Exchange Rate In Nigeria Today Black Market
How much is exchange rate of Dollar to Naira in Black Market today in Nigeria?
The dollar is worth ₦570 today at the Lagos Parallel Market (Black Market), according to the current exchange rate. Players buy a dollar for ₦565 naira and sell a dollar for ₦570, according to the current exchange rate at Bureau De Change (BDC).
The Central Bank of Nigeria (CBN) does not recognize the black market (also known as the parallel market), and customers who want to trade foreign currencies should contact their local banks.
Trading at the NAFEX official window (CBN Exchange rate Dollar to naira )
The exchange rate between the naira and the USD opened at ₦426.25/$ on 4th December 2021 and closed at ₦426.25/$1.
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate In Lagos|
Dollar To Naira Today Black Market Port Harcourt
The Nigerian Naira to Dollar parallel Market today in Rivers State January 5th (Parallel Market) sells at ₦570/1$, according to sources at Bureau De Change (BDC).
|Dollar to Naira (USD to NGN)||Black Market Dollar To Naira Rate Today in Port Harcourt|
Convert US Dollar to Nigerian Naira Today, January 5th 2022. How much are 100 dollars in Naira?
|USD Dollar||Conversion of Dollar Naira|
|1 USD||426.25 NGN|
|10 USD||4,206.7 NGN|
|100 USD||42,067 NGN|
Dollar to Naira Black Market Rate Today 5th January 2022. The U.S. Dollar to Nigerian Naira in Black Market Today.
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate in Nigeria range|
|Selling Rate||572 -568|
AbokiFX.com is where you get your Abokifx Your Daily Naira Exchange Rate and Today Abokifx Naira Rate
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Yesterday|
China launches app for its own digital currency, e-CNY
China’s central bank has launched a test version of a wallet app in an effort to expand the use of the digital yuan.
The Android and Apple app stores in China both have the mobile application available for download.
The e-CNY, or electronic Chinese yuan, is a digital version of China’s national currency that has been in development since 2014. It is not a cryptocurrency like bitcoin; rather, it is issued and controlled by the People’s Bank of China.
What you need to know
The central bank sees e-CNY as an efficient way to digitalize banknotes and coins in circulation. In terms of cashless payments, the Chinese market is already very advanced. The digital yuan could help speed up the process.
China has conducted a series of lotteries in which users in specific cities were given a small amount of digital currency to spend. Several businesses, including e-commerce behemoth JD.com, have accepted it as payment in the last year.
China will distribute 40 million renminbi ($6.2 million) in digital money to Beijing residents through a lottery.
The digital yuan, on the other hand, has not yet been rolled out across the country, and there is no official timeline for doing so.
The new app is available in ten locations, including major cities such as Shanghai and Beijing. Previously, only those who had been invited could use the app. Anyone, however, can now download the app, demonstrating China’s efforts to increase digital currency adoption.
The digital yuan could boost competition in China’s mobile payments market, which is currently dominated by Alipay from Ant Group and WeChat Pay from Tencent.
What the BDCs have to say
Gwadabe suggested that, just as the CBN de-risked the agricultural sector by allowing farmers to get single-digit loans from banks, the CBN could de-risk BDC operations by allowing them to receive diaspora remittances through International Money Supply Operators (IMTOs) and thus deepen foreign capital flows into the economy.
The ABCON recognizes the CBN’s difficulties in maintaining weekly dollar interventions to BDCs, according to Gwadabe, due to falling foreign reserves, declining oil output, and oil theft, Covid-19-induced economic hardships, fiscal policy concerns, debt burden, and election spending.
“We support any measures that lead to compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CFT), as well as the CBN’s exchange rate stability policies and security agencies’ enforcement of corporate governance and compliance guidelines by BDC operators.”
“It is our sincere belief that the BDCs should be formally reintegrated to ensure their continued potency in managing exchange rate stability,” Gwadabe said.
ABCON is now training Compliance Officers to ensure that they understand what is expected of them, particularly in terms of monthly rendition of results and tracking illicit financial flows, according to him.
ABCON has established itself as a key player in the BDC business over the years, according to Gwadabe, and has made various promises and sacrifices to ensure that the sector thrives despite the challenges.
“Recognizing the role of BDCs in Nigeria’s financial sector is the first step toward establishing a sustainable and viable forex market comparable to that of other developed economies.” But, to get the Nigerian BDC sector to where it wants to be, hard work, good leadership, regulatory foresight, and sound government policies are required,” he said.
As a result of various infringements by the operators against Nigeria’s monetary policies, the CBN governor banned the supply of forex to BDC operators in the country in July 2021.
Godwin Emefiele, the Governor of the Central Bank of Nigeria, also announced a moratorium on the licensing of new Bureau De Change (BDC) operators and the processing of BDC applications for forex across the country.
The Nigerian Naira is the currency of Nigeria. Our currency rankings show that the most popular Nigerian Naira exchange rate is the NGN to USD rate. The currency code for Nairas is NGN. And the currency symbol is ₦.
Dollar To Naira Exchange Rate Today Black Market ( This Week )
As Ejes Gist News reports, during the first trading day of the week on Wednesday, January 6, 2022, in the Parallel Market, also known as the Black Market, the USD opened the week at ₦565. Since last Wednesday, when it opened at ₦558 Naira per dollar, there has been a 2 naira change in the exchange rate.
First Bank current dollar to naira exchange rate.
First of Nigeria Plc Currency Exchange Rate is $1 = ₦480.00
Pay Attention To eNaira Speed Wallet Download Link – How To Sign Up
Zenith bank Dollar to naira exchange rate today.
Zenith Bank Plc Currency Exchange Rate $1 = ₦481.00
Western Union USD to naira exchange rate today.
Western Union Currency Exchange Rate $1 = ₦479.04
Wema bank USD to naira exchange rate today.
Wema Bank Plc Currency Exchange Rate is $1 = ₦480.00.
GTBank USD to naira exchange rate today & GTbank dollar to naira exchange rate black market
GTBank Bank Plc Currency Exchange Rate is $1 = ₦481.0
UBA Bank of Nigeria Currency Exchange Rate $1 = ₦480.01
Access Bank USD to Naira exchange rate today
Access Bank PLC Currency Exchange Rate $1 = ₦480.09.
The eNaira wallet was launched by the Federal Government, led by Central Bank Governor Godwin Emefiele, to facilitate transactions and support the Naira (₦).
Click here to learn more about the eNaira wallet. eNaira wallet
The USD to Naira Black Market Calculator depends on the volume of dollars available in the black market.
Disclaimer: The black market exchange rate of the US dollar to the Nigerian naira is regulated by supply and demand, but the CBN Nigeria Exchange Rate is determined by the CBN Governor and monetary policy.
In Nigeria, there is no uniform exchange rate.
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