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Dollar to Naira Exchange Rates

Dollar To Naira Exchange Rate Today 31 December 2021

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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 31, 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 31st, for $1 dollar to naira = ₦420.67/$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 ₦420.67/$1 on Friday 31st, after it closed at ₦435.00 to a $1 on Thursday, 30th 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 N560 and sell at N565 on Friday, December 31st 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 ₦420.67/$1 on 31st December 2021 after closing at ₦435.00/$1. Showing a change of 1.66%.

According to data from FMDQ, forex turnover stands at $227.29 million.

Meanwhile, the Presidential Artisanal Gold Mining Development Initiative has been charged by President Muhammadu Buhari to provide a six-month progress report on the Solid Minerals Development Fund.

The report which is to be designed to capture accruals from investments is part of the president’s effort to enthrone probity and best practice in the mining sector.

Buhari at a Steering Committee and Management Team of PAGMI, asked the team to scale up operations in the mining sector by ensuring that investments go beyond artisanal and small-scale levels.

Garba Shehu quoted Buhari saying, “The PAGMI Management Team should now develop innovative ways to move PAGMI to the next level to ensure the Nigerian mining story goes beyond artisanal and small-scale mining.

“I support the Steering Committee’s target of aggregating 3-5 tons of gold over the next 12 months, as this will deliver tremendous fiscal and economic benefits to the nation. The Solid Minerals Development Fund should work with all relevant Government agencies to identify the support and funding needed to deliver on this aggregation target.

“Now that you have successfully delivered a pilot scheme in Kebbi State, it is time to roll out and expand sustainably across other states. The government is committed to providing all the necessary support required.”



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