What is the Dollar to Naira Exchange rate at, offical CBN rate, aboki fx and the black market. How much is the Dollar to Naira exchange rate today, 8th August 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market or parallel market rate.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Monday August 8th 2022, for $1 dollar to naira = ₦429.00/$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 ₦429.00/$1 on Monday 8th August, and closed at ₦428.12 to a $1.
US Dollar to Naira Black Market Rate Today, 8th August 2022
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).
Factors that could Influence Foreign Exchange Rates in Nigeria
- Conditions of Trade
- Government Debt
- Interest Rates
- Inflation Rates
Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.
The recovery in air travel remains strong with a 103.6 per cent rise, according to the International Air Transport Association’s passenger data for June 2022.
According to the IATA, total traffic in June 2022 which was measured in revenue passenger kilometres was up 76.2 per cent compared to June 2021.
The report states that the increase was primarily propelled by the ongoing strong recovery in international traffic.
Globally, traffic is now at 70.8 per cent of pre-crisis levels, IATA reports.