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?
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 ₦414.498/$1 on Tuesday 18th, after it closed at ₦414.5 to a $1 on Monday, 17th January 2022.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N567 and sell at N570 on Tuesday, January 18th 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.
Meanwhile, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has maintained that Nigeria’s current debt level is still within the limit and is sustainable.
Naija News reports that the minister stated this in her presentation of the 2022 approved budget.
Ahmed noted in her report that the nation’s total debt stock surge from N32.9tn as of December 2020 to N39.6tn in November last year.
The presentation as made available to newsmen on Monday, have it that the Nigerian government borrowed N6.7tn between January and November 2021.
Naija News understands that the said borrowing in the period under review consists of N5.1tn domestic debt and N1.6tn.
The domestic debt is understood to include borrowing from the Central Bank of Nigeria. The Debt Management Office had in March 2021 disclosed that the country’s total public debt stock was N32.9tn as of December 2020.
An additional N6.7tn loan means the total public debt stock would be about N39.6tn as of November 2021. The DMO had disclosed that the country’s total public debt increased to N33.1tn at the end of the first quarter of 2021, from N32.9tn in December 2020, showing an increase of about 200bn.