Dollar To Naira Exchange Rate Today, 15th July 2022

Thursday, 14th 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, Thursday, July 14th, 2022, for $1 dollar to naira = ₦424.30/$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 ₦424.30/$1 on Thursday 14th July, after it closed at ₦424.58  to a $1 on Wednesday, 13th 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 N615 on Thursday, 14th 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 ₦424.30/$1 on 14th July, 2022 and closed at ₦424.62/$1. Showing a change of 0.01% and a daily turnover of $87.95 million.

According to data from FMDQ, forward rate went as high as ₦443.00 and as low as ₦424.00.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦414.00.

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.

Oil Falls Below $100, Nigeria’s Production Hit 1.158mb/d

The latest figures released by the Organisation of Petroleum Exporting Countries showed an increase in Nigeria’s oil production from 1.024 million barrels per day to 1.158mb/d.

This is as Brent, the international benchmark for crude, fell below $100 per barrel on Tuesday.

The data released by the industry shows that Brent dropped in price by $7.72 or 7.21 per cent to close at $99.38 per barrel as of 7.45 pm Nigerian time on Tuesday.

According to crude oil production data obtained by OPEC from direct communication, the OPEC Monthly Oil Market Report for July 2022 showed that Nigeria’s oil production increased by 134 million barrels per day in June 2022.

The report stated that Nigeria’s oil production in May 2022 was 1.024mb/d, but this moved up to 1.158mb/d in June.