Dollar To Naira Exchange Rate Today 16 December 2021

This is the news about Dollar to Naira rate at the official and black market exchange rate Today December 16, 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, Thursday December 16th, for $1 dollar to naira = ₦414.13/$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 ₦414.13/$1 on Thursday 16th, after it closed at ₦414.25 to a $1 on Wednesday, 15th 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 N564 and sell at N567 on Thursday, December 16th 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 ₦414.13/$1 on 16th December 2021 after closing at 414.25/$ on 15th December. Showing a change of 0.06%.

According to data from FMDQ, forex turnover stands at $177.60 million.

Meanwhile, the annual inflation rate has dropped for the seventh consecutive month, the National Bureau of Statistics (NBS) has announced.

Naija News reports that the Bureau made this known in its Consumer Price Index report for November 2021 released on Wednesday in Abuja.

The NBS stated that the inflation rate dropped from 15.99 percent in October to 15.4 percent in November.

According to the agency, the drop represents a 2.77 percentage point decline since March when the inflation rate peaked at 18.17 percent.