Dollar To Naira Exchange Rate Today, 14th July 2022

Wednesday, 13th 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, Wednesday, July 13th, 2022, for $1 dollar to naira = ₦424.40/$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 ₦424.40/$1 on Wednesday 13th July, after it closed at ₦427.75  to a $1 on Friday, 8th 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 N612 on Wednesday, 13th 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

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	590
Selling Rate	612

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦424.40/$1 on 13th July, 2022 and closed at ₦424.58/$1. Showing a change of -0.36% and a daily turnover of $60.84 million.

According to data from FMDQ, forward rate went as high as ₦435.00 and as low as ₦422.00.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦411.42.

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.

Concerns As Fuel Price In Nigeria Hits N200/litre

Concerns have been raised as the price of Premium Motor Spirit popularly known as petrol, continues to increase across major cities.

Findings reveal that fuel is now sold at N200 per litre in many petrol stations across the country.

The lingering fuel scarcity has been condemned by commuters in Lagos and Ogun states who are now calling on the government to immediately address the issue.

Naija News understands that Nigerians have been bearing an unfriendly fuel pump price for months now. The hike had subsided a little earlier but some states are still experiencing the hardship at the very moment.

Residents of Lagos, Abuja and some states have over the past week cried out on the development. While the price remained so high, it was observed also that a number of filling stations in Lagos remained closed for business, apparently due to the unavailability of the product.

Also, the few outlets dispensing the product in the cities had long queues as motorists jostled to buy the product.