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, 29th 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, Thursday, September 29th, 2022, for 1 dollar to naira = ₦437.00/$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 ₦437.00/$1 on Thursday 29th September, and closed at ₦437.03 to $1.
US Dollar to Naira Black Market Rate Today, 29th 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 Central Bank of Nigeria has warned all its debtors to immediately begin repayment of their loans, else risk visitation by officials of the Economic and Financial Crimes Commission (EFCC) for forceful recovery.
Naija News reports that the apex bank issued the threat in Abuja on Wednesday at a post-287th Monetary Policy Committee press conference.
CBN revealed in its presentation that it lent out the sum of N9.3tn to businesses out of which manufacturers lead the pack of beneficiaries gulping 31 per cent.
Out of the total sum sent out, the apex bank said it was able to recover the sum of N3.7tn while N5tn was not yet due.
Giving the updates, Director of Development Finance, CBN, Dr Yusuf Yila, said it was the first time manufacturers were getting a long-term finance scheme with a reasonable moratorium.
According to him, the intervention funds had been slowed down in the bank’s efforts to rein in inflation. Giving a further breakdown of the fund disbursement, Yila said N1tn was disbursed under the Anchor Borrowers Programme while N400bn had been recovered.
He, however, warned that the bank is coming after debtors who will refuse to repay their loans when due. He said the bank had collaborated with the EFCC to set up a desk with a view to recovering the loans.