Dollar To Naira Exchange Rate/Black Market Rate – Naira Sells At ₦415.68

Thursday, 3rd February 2022: This is the news about the Dollar to Naira rate at the official and black market exchange rate.

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, February 3rd, 2022, for $1 dollar to naira = ₦415.68/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.68/$1 on Thursday 3rd, after it closed at ₦416.25 to a $1 on Wednesday, 2nd January 2022.

Naija News reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.

How much is a dollar to naira today in the black market?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N565 and sell at N570 on Thursday February 3rd 2022, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize 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 ₦415.68/$1 on 3rd February 2022 and closed at ₦416.07/$1. Showing a change of -0.04%.

According to data from FMDQ, forex daily turnover stands at $162.70 million.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦408.00

A spot exchange rate is the current price level in the market to directly exchange one currency for another, for delivery on the earliest possible value date.

Meanwhile, are you curious to know about the current prices of foodstuffs in Nigeria?

Naija News is here to update you on the weekly price of foodstuffs from different states and market locations.

As you may know, food prices in Nigeria have been drastically affected recently by the unstable inflation rate.

Except for local farmers who produce crops mostly for personal consumption and also to sell in portions, going to the market to buy foodstuffs for consumption this day could be heartbreaking due to the high prices.

Meanwhile, market experts have warned that food prices will continue to rise since farming has become unsustainable due to issues including high costs of farming materials, flooding, and insecurity.