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Dollar to Naira Exchange Rates

Dollar To Naira Exchange Rate Today 3 December 2021



Dollar to naira exchange rate today

This is the news about Dollar to Naira rate at the official and black market exchange rate Today December 3, 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, Friday December 3rd, for $1 dollar to naira = ₦414.06/$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 ₦414.06/$1 on Friday 3rd, after it closed at ₦414.80 to a $1 on Thursday, 2nd December 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) players buy a dollar for N555 and sell for 558 on Friday, December 3rd 2021, 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 ₦414.06/$1 on 3rd December 2021 after closing at ₦414.80/$1. Showing a change of 0.03.

According to data from FMDQ, forex turnover stands at $139.67 million.

Meanwhile, the Nigerian Communications Commission (NCC) has outlined various policy and regulatory initiatives being implemented by the Commission to reiterate its commitment towards ensuring continuous development of the startups section of the telecommunication ecosystem in Nigeria.

The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NCC, Prof. Umar Danbatta, listed the initiatives during a two-day Zonal Regional Information and Communication Technology (ICT) Innovation Forum organised by the Commission in Enugu recently.

The annual event, with the theme: “Digital Societies and Emerging Technologies: Leveraging ICTs to Build Information and Knowledge Societies for Achieving the Nation’s Digital Economy”, was attended by representatives of strategic partners of the Commission, Mobile Network Operators (MNOs), Internet Service Providers (ISPs), Original Equipment Manufacturers (OEMs), tech hubs, innovators and tech entrepreneurs, as well as venture capitalists, among others.

Represented by the Head, Research and Development, NCC, Kelechi Nwankwo, Danbatta said the current momentum being witnessed in the Nigeria’s tech space is, no doubt, attributable to the regulatory approach of the Commission. Danbatta stated that Commission is committed to effective regulation of the telecoms sector in ways that will not inhibit competition but rather fosters innovation, industry growth and socioeconomic development.

According to Danbatta, the Commission, as the key driver in the ICT industry and a responsive organisation, has implemented deliberate policy and initiatives creating an enabling environment for Nigerian startups to thrive and scale up for more global impact and value creation.

The EVC said these initiatives include the aggressive and ongoing implementation of the Nigerian National Broadband Plan NNBP), 2020-2025 aimed at increasing broadband penetration to 70 per cent by 2025; driving of the implementation of the National Digital Economy and Policy Strategy (NDEPS), 2020-2030; and the implementation of the NCC’s Strategic Management Plan (SMP) 2020-2024, all of which are streamlined in the Strategic Vision Plan (SVP) 2021-2025 to ensure regulatory effectiveness.

Danbatta declared that other similar initiatives emplaced by the Commission to facilitate the development and sustainability of the tech startup ecosystem are the ICT Hubs Support and Engagement Programmes; the annual ICT Innovation Competition and Exhibition; the Annual Hackathon, as well as the ongoing development of ICT parks across the country.

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