Thursday, 26th May: 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 rate in nigeria 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, May 26th, 2022, for $1 dollar to naira = ₦419.00/$1.
According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦419.00/$1 on Thursday 26th, after it closed at ₦418.00 to a $1 on Wednesday, 25th May 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 N580 and sell at N598 on Thursday, May 26th 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.
Dollar to Naira Black Market Rate Today
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦419.00/$1 on 26th May, 2022 and closed at ₦418.88/$1. Showing a change of 0.21% and a daily turnover of $157.46 million.
According to data from FMDQ, forward rate went as high as ₦453.35 and as low as ₦419.98.
Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00.
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.
The National Bureau of Statistics, NBS, said it recorded over 53 percent growth in the 2022 first quarter report on Company Income Tax compared to last year’s figures.
It said about N532.48 billion in the Company Income Tax, CIT, was realized in first quarter of 2022 (Q1’22) compared to N347.8 billion in Q1’21.
NBS noted this in its CIT report for Q4’21 released today, where it showed the top three largest shares in Q1’22 were Manufacturing with 21.31 per cent, Information and communication with 14.03 per cent, and Financial and insurance with 12.20 per cent .