DOLLAR TO NAIRA EXCHANGE RATES

Black Market Dollar To Naira Exchange Rate Today Tuesday, January 25, 2022

Dollar to Naira CBN Exchange Rate today : Dollar to Naira Black Market Exchange Rate Today. www.brandnewsday.com

Black Market Dollar to Naira exchange rate today Tuesday, 25 January 2022 has emerged and, can be accessed below as obtained by BrandNewsDay.

Brand News Day Nigeria has obtained the official US Dollar to Naira exchange rate today Nigeria, including the Black Market rate, Bureau De Change (BDC) rate, and the CBN exchange rate today.

The exchange rate between the naira and the US dollar at the official Investors and Exporters (I&E) window closed at N416.38/$1.

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January 25 dollar to naira official market exchange rate: $1 dollar to naira =₦415.24

READ: Naira To Dollar Exchange Rate ‘Would’ Hit N620/$1 In Black Market Soon -Expert

How Much Is Dollar To Naira Exchange Rate Today CBN Rate?

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at ₦414.76per dollar on Tuesday, 25th January 2022, after it closed at ₦416.38 per $1 on Monday, 24 January 2022. This represents a change of 0.09% depreciation compared to N416/$1 recorded in the previous trading session.

Black Market Dollar To Naira Exchange Rate Today Monday, January 25, 2022

Dollar to Naira CBN Exchange Rate today : Dollar to Naira Black Market Exchange Rate Today.
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The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).

January 25 dollar to naira black market exchange rate: N571/$1

READ: BREAKING: Naira Falls Massively At P2P Market, Dollar To Naira Rate Hits N581/$1

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READ: Stanbic IBTC Launches DiSEP 4.0, Empowering Nigerian Youths With Cutting-edge Digital Skills

The local currency opened at N571.00 per $1 at the parallel market. 

LAGOS PARALLEL MARKET RATES January 25, 2022 (BLACK MARKET): dollar to naira exchange rate today black market

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N571.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 25 January 2022, in Lagos Nigeria, after it closed N569.00 per $1 on Monday, 24 January 2022.

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Even though the dollar to naira opened in the parallel market at ₦571 per $1 today, BrandNewsDay reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

BrandNewsDay reports that at the black market, the players buy a dollar for N567 and sell for N570 on Tuesday morning, January 25, 2022, after they bought N564 and sold for N569 on Monday morning, January 24.

On the one hand, BrandNewsDay reports that the USD started this week at ₦571 in Parallel Market also known as Black Market after maintaining N570 to a dollar in the past three trading sessions. This is according to information obtained from BDC operators as obtained by Brand News Day Nigeria. 

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On the other hand, Naira started the week with a decline against the US dollar on Monday to close at N416.38/$1, representing a 0.09% depreciation compared to N416/$1 recorded in the previous trading session. Meanwhile, forex turnover at the official market decreased marginally by 3.9% to $136.9 million compared to $142.42 million that exchanged hands on Friday.

READ: Bad governance: Recreating Nigeria To Avert Collapse

Trading at the official NAFEX window

The exchange rate at the Investors and Exporters window closed at N416.38/$1 on Monday, 24th January 2022, which represents a 0.09% depreciation compared to N416/$1 recorded in the previous trading session

  • The opening indicative rate closed at N415.31/$1 on Monday, which represents 55 kobo depreciation compared to N414.76/$1 recorded in the previous trading session.
  • An exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N416.38/$1, while it sold for as low as N410/$1 during intra-day trading.
  • Forex turnover at the official window decreased marginally by 3.9% to $136.9 million on Monday, 24th January 2022.
  • According to data tracked by Brand News Day from FMDQ, forex turnover at the I&E window dropped from $142.42 million recorded on Friday 21st January 2022 to $136.9 million on Monday 24th January 2022
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