This is the news about Dollar to Naira rate at the official and black market exchange rate Today January 5, 2022.
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 January 5th 2022, for $1 dollar to naira = ₦423.56/$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 ₦423.56/$1 on Wednesday 5th, after it closed at ₦422.67 to a $1 on Friday, 4th January 2022.
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 N570 and sell at N575 on Wednesday, January 5th 2022, 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 ₦423.56/$1 on 5th January 2022 after closing at ₦422.67/$1. Showing a change of -0.63%.
According to data from FMDQ, forex turnover stands at $109.07 million.
Meanwhile, the Central Bank of Nigeria, CBN, has revealed that part of its focus for the year 2022 is to ensure households and small scale businesses get adequate access to funds.
This according to the apex bank would encourage and boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities in the nation.
Naija News reports that the CBN governor, Godwin Emefiele, said this at an event held recently in Lagos.
Stressing the importance of improving access to finance and credit for households, small and medium-sized enterprises (SMEs) in 2022, Emefiele also noted that there is a need for all stakeholders to join in building a more resilient economy that would contain external shocks while supporting growth and wealth creation in key sectors of the economy.
The CBN governor said: “The policy focus of the bank for 2022 is with a pledge to sustain improved access to finance and credit for households and businesses, mobilise investment to boost domestic productivity, enable faster growth of non-oil exports, and support employment generating activities.”
Recounting the emergence and impact of the COVID-19 pandemic in the country, Emefiele said the trouble brought about by the dreaded disease calls for conscious measures to diversify Nigeria’s economic base.
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