This is the news about Dollar to Naira rate at the official and black market exchange rate Today November 17, 2021.
Read Naija News 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, Wednesday November 17, for $1 dollar to naira = ₦413.74/$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 ₦413.74/$1 on Wednesday 17, after it closed at ₦415.10 to a $1 on Tuesday, 16 November 2021.
How much is exchange rate of Dollar to Naira in Black Market today?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Wednesday, November 17th sells between N535 and N540/1$, according to sources at Bureau De Change (BDC).
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 ₦413.74/$1 on 17th November 2021 after closing at ₦415.10/$1 on November 16th. Showing a change of -0.20%.
According to data from FMDQ, forex turnover stands at $62.53 million.
Meanwhile, the spokesperson of the House of Representatives, Rep. Benjamin Kalu, has called on government at all levels to provide the infrastructure needed to promote Small and Medium Enterprises (SMEs) in Nigeria.
Naija News reports that he stated this while addressing exhibitors at the 8th made-in-Aba trade fair in Abuja on Tuesday.
Speaking at the event Kalu said the availability of electricity and production machines would help boost activities of SMEs.
While commending the artisans for presenting high quality goods at the trade fair, the lawmaker urged them to remain good ambassadors of made-in-Aba brand.
He stressed the need for Nigerians to patronise locally made goods, describing it as a sure way of promoting SMEs in the country.