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Dollar To Naira Exchange Rate Today 14 December 2021

Published

14 December 2021

9:40 AM

This is the news about Dollar to Naira rate at the official and black market exchange rate Today December 14, 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, Tuesday December 14th, for $1 dollar to naira = ₦414.03/$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 ₦414.03/$1 on Tuesday 14th, after it closed at ₦415.10 to a $1 on Monday, 13th 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 N562 and sell at N565 on Tuesday, December 14th 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 ₦414.03/$1 on 14th December 2021 after closing at 415.10/$ on 13th December. Showing a change of 0.01%.

According to data from FMDQ, forex turnover stands at $121.45 million.

Meanwhile, Amazon and other digital companies become Value Added Tax collectors for the Federal Inland Revenue Service (FIRS) if the proposed amendment to the Finance Act is signed into law.

Naija News reports that this was made known by the Minister of Finance, Zainab Ahmed, while speaking in Abuja on Monday at the public hearing into the bill.

According to the Minister the bill if passed by the lawmakers and assented to by President Muhammadu Buhari will reduce ambiguity and restrict VAT obligations to digital non-resident companies.

Recall that Buhari had transmitted the bill to the two chambers of the National Assembly last week Tuesday.

The bill seeks to amend the Capital Gains Tax Act, Company Income Tax, FIRS Establishment Act, Personal Income Tax, Stamp Duties Act and Tertiary Education Act, Value Added Tax, Insurance Police Trust Fund and the Fiscal Responsibility Act.

The bill is proposing an amendment to section 10 of the VAT, by introducing a new section 10, putting the burden of VAT on non-resident digital companies, rather than non-resident individuals.