This is the news about the Dollar to Naira rate at the official and black market exchange rate.
Read Frank Talk now update on the official dollar rate in Nigeria 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 on Friday, April 1, 2022, for $1 dollar to naira = ₦416.00/$1.
According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦416.00/$1 on Friday 1st, after it closed at ₦416.17 to a $1 on Thursday, 31st March 2022.
READ ALSO: Naira May Fall To ₦700 Per Dollar Over Oil Theft, Low Export – NACCIMA
Frank Talk Now reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.
How much is a dollar to naira today in the black market?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N580 and sell at N600 on Friday, April 1st 2022, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 580 |
| Selling Rate | 600 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦416.00/$1 on 1st April, 2022 and closed at ₦416.62/$1. Showing a change of 0.11 and a daily turnover of $73.31 million.
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According to data from FMDQ, forward rate went as high as ₦453.25 and as low as ₦416.30.
Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00.
A spot exchange rate is the current price level in the market to directly exchange one currency for another, for delivery on the earliest possible value date.
NNPC To Remit N322.45bn Proceeds From Four IOCs To FAAC
The Nigerian National Petroleum Company Limited said it is expected to remit the sum of N322.45bn in April 2022 to the Federation Account.
The said amount will be garnered from four international oil companies namely; Chevron Nigeria Limited, Mobil Producing Nigeria, Shell Petroleum Development Company, and First Exploration and Production.
The NNPC relayed this to members of the Federation Account Allocation Committee in its presentation at the last FAAC meeting on March 22, 2022, Naija News understands.
In the presentation obtained by the PUNCH from the oil firm in Abuja on Friday, the NNPC noted that the time frame was in line with the firm’s 90 days payment term.
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