Dollar To Naira Exchange Rate Today and Dollar to Naira black market today 28 February 2022
On this page, we compiles Latest dollar to naira exchange rates daily during the week so our readers can easily have access to the rates the American dollar exchanged against the naira each day for the week.
GbExtra Media reports that the dollar to naira exchange at the official market, as well as, at the parallel market otherwise known as the black market for each day during the week will be accessed by our readers.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, February 28th, 2022, for $1 dollar to naira = ₦415.35/$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 ₦415.35/$1 on Friday 25th, after it closed at ₦416.00 to a $1 on Thursday, 24th January 2022.
GbExtra 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 black market today?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N571 and sell at N576 on Monday, February 28th 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.
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦415.35/$1 on 25th and closed at ₦416.00/$1. Showing a change of -0.06%.
According to data from FMDQ, forex daily turnover stands at $134.39 million. Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦405.00
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.
IMPORTANT NOTE: Please note that the exchange rate changes hourly. It depends on the volume of dollars available and the Demands. What it means is that, you can buy or sell 1 dollar at ₦415.35 and the price can change (high or low) within hours.