Dollar To Naira Exchange Rate Today, 13th July 2022

Friday, 8th July: 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, Friday, July 8th, 2022, for $1 dollar to naira = ₦423.85/$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 ₦423.85/$1 on Friday 8th July, after it closed at ₦428.16  to a $1 on Thursday, 7th July 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 N590 and sell at N611 on Friday, 8th July, 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

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦423.85/$1 on 8th July, 2022 and closed at ₦427.75/$1. Showing a change of -0.52% and a daily turnover of $48.67 million.

According to data from FMDQ, forward rate went as high as ₦442.00 and as low as ₦442.00.

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.

NNPC Blocks Exxon Mobil’s Asset Sale To Seplat

The Exxon Mobil Corporation has been blocked from selling its assets in Nigeria to Seplat Energy Plc, following a case filed by the Nigerian National Petroleum Company Limited.

According to Blomberg, NNPC was granted an order by a judge in Abuja stopping Exxon “from completing any divestment” in a unit that ultimately operates four licenses in Nigeria.

Seplat which is based in Lagos State had taken steps to take over the United States oil major’s subsidiary for at least $1.28bn in February.

It was reported that NNPC stopped Exxon from selling its assets to Seplat because it wants to take over the permits itself.

Bloomberg stated that NNPC sued Mobil Producing Nigeria Unlimited on July 5, 2022, asking the Federal High Court either to order that a dispute had occurred between the parties over preemption rights, or to order them to take the matter to arbitration, quoting a statement from Seplat.