What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 27th September 2022?
You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market, or parallel market rate.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Tuesday, September 27th, 2022, for 1 dollar to naira = ₦434.93/$1.
According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦434.93/$1 on Tuesday 27th September, and closed at ₦436.33 to $1.
US Dollar to Naira Black Market Rate Today, 27th September 2022.
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and the demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).
Factors that could Influence Foreign Exchange Rates in Nigeria
- Conditions of Trade
- Government Debt
- Interest Rates
- Inflation Rates
Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.
The Federal Government has issued fresh licenses and permits to 37 companies to produce a total of 762.3 megawatts of electricity in order to boost power supply across the country.
Naija News reports that the Nigerian Electricity Regulatory Commission (NERC) made this known in its latest Fourth Quarter 2021 Report.
According to the report, the metering of power users dropped by 71.86 per cent when compared to the number of those who were metered by power distribution companies in the preceding quarter.
The report reads: “The commission approved the issuance of four new generation licenses with a total nameplate capacity of 508.5MW and the renewal of two existing licences in 2021/Q4.
“The commission also granted an aggregate capacity of 253.75MW captive power generation permit to eight companies and approved 25 mini-grid permits.”
It stated that 46 metering service providers consisting of 17 installers, 15 manufactures, two vendors and 12 importers were also approved by the commission in the fourth quarter of 2021.
On metering, it stated that the huge metering gap for end-use customers was still a key challenge in the industry.
The report said: “A total of 81,084 meters were installed in 2021/Q4, as compared to the 288,154 meters installed in 2021/Q3.
“The reduction in the number of meter installations in 2021/Q4 was largely driven by the winding down of the NMMP (National Mass Metering Programme) phase zero.”