The following is the official and Black Market Dollar To Naira Today news for the 10th of December, 2021.
Read the most recent updates on official dollar rates, as well as Black Market Dollar To Naira Exchange Rate Today, Bureau De Change (BDC), and Central Bank of Nigeria (CBN) rates.
What Is Today’s Official Dollar To Naira Exchange Rate?
Today, Friday, December 10th, the official rate for one dollar to one naira is ₦413.69$1.
According to data from the FMDQ Security Exchange, where forex is officially traded, the naira and the US dollar exchange rate opened at ₦413.69/$1 on Friday, December 10th, after closing at 415.07 to a dollar on Thursday, December 9th, 2021.
What is the current Black Market Dollar to Naira exchange rate?
According to Bureau De Change (BDC) sources, on Friday, December 10th 2021, the exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) was N562 for a dollar and N565 for a dollar.
Please be aware that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), and has advised individuals interested in trading Forex to contact their local banks.
Trading at the NAFEX official window
On December 9, 2021, the naira and the US dollar exchange rate opened at 413.71/$1 and closed at 415.07/$.
Forex turnover is $453.38 million, according to data from FMDQ.
Meanwhile, the naira, Nigeria’s national currency, continued its free fall in the parallel market on Thursday, following the central bank’s decision to stop selling foreign currency to exchange bureaus at the end of July.
While the official market exchange rate remains stable at 415 naira to the dollar, the black market rate has dropped to 572 naira to the dollar.
On Wednesday, the naira and the US dollar exchange rate at the Investors and Exporters forex window closed at 413/$1 and opened at 415/$1 on Thursday.
Nigeria’s central bank toughened its stance in September in an attempt to prevent the national currency from collapsing.
The Aboki FX website, which had been providing exchange rates on the parallel currency market since 2014, was forced to shut down.
The Nigerian central bank accused the site’s founder of manipulating exchange rates, which, according to the bank’s governor, would have the effect of “killing” the Nigerian economy.