This is the news about Dollar to Naira rate at the official and black market exchange rate Today January 10, 2022.
Read Frank Talk Now update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Monday January 10th 2022, for $1 dollar to naira = ₦(yet to be disclosed)/$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 ₦(yet to be disclosed)/$1 on Monday 10th, after it closed at ₦416.00 to a $1 on Friday, 7th 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 N562 and sell at N567 on Monday, January 10th 2022, according to sources at Bureau De Change (BDC).
READ ALSO: Top Nigerian Newspaper Headlines For Today, Monday, 10th January, 2022
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 naira and the US dollar opened at ₦415.70/$1 on 7th January 2022 and closed at ₦416.00/$1. Showing a change of -1.49%.
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According to data from FMDQ, forex turnover stands at…
Meanwhile, the Central Bank of Nigeria (CBN) has said that its intervention in the foreign exchange market (forex) declined to $1.65 billion in August 2021.
In the forex report for August 2021 released on Thursday, the CBN said its continued intervention in the foreign exchange market is to ensure systemic stability and adequate liquidity.
According to the report released by the apex bank, the sales of forex to commercial banks reduced from $2.05 billion in July despite its stoppage of weekly dollar allocation to Bureaux de Change (BDCs) in July over alleged forex racketeering.
The CBN said total forex sales to authorised dealers by the bank was $1.65 billion in August, representing a decrease of 19.3 per cent relative to $2.05 billion in July.
A breakdown showed that forex sales to interbank, Swap transactions and Small and Medium Enterprises (SMEs) interventions rose by 63.5 per cent, 72.3 per cent, and 42.5 per cent to $0.28 billion, $0.46 billion, and $0.17 billion, respectively.
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