Dollar To Naira Exchange Rate Today, 18th July 2022

Friday, 15th 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 15th, 2022, for $1 dollar to naira = ₦426.63/$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 ₦426.63/$1 on Friday 15th July, after it closed at ₦424.62  to a $1 on Thursday, 14th 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 Friday, 15th 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	615

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦426.63/$1 on 15th July, 2022 and closed at ₦430.33/$1. Showing a change of 1.34% and a daily turnover of $63.19 million.

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

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.

IOCs Face Threat As NEITI Moves To Recover $6.4bn Debts

The Nigeria Extractive Industries Transparency Initiative (NEITI) has sent a stern warning to International Oil Companies (IOCs) in the country over outstanding debts.

Naija News understands that there are five IOCs currently operating in Nigeria and they include SPDC, TotalEnergies, Chevron, ExxonMobil as well as Eni.

They are responsible for 45% of Nigeria’s oil production and 40% of gas. While some of the companies are cooperating by remitting their outstanding debts including taxes, royalties and levies to the Federation Account, some according to NEITI have failed to comply.

The NEITI in a statement released on Thursday, July 14, threatened the defaulting firms that it would not hesitate to activate its agreements with anti-corruption agencies in recovering the outstanding oil companies’ debts to the Federation Account if the defaulters further refused to clear their indebtedness.