What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 16th September 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, Friday, September 16th, 2022, for 1 dollar to naira = ₦434.67/$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 ₦434.67/$1 on Friday 16th September and closed at ₦436.25 to $1.
US Dollar to Naira Black Market Rate Today, 19th September 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 the 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.
Nigeria is losing at least N32bn daily due to the shutdown of three crude oil export terminals with a combined capacity of 580, 000 barrels per day.
According to The Punch, a total of 200, 000 barrels per day are lost through the Forcados terminal, while 180, 000b/d are lost through the Trans Niger pipeline.
Also, 200, 000b/d are lost through the Brass terminal, putting a total at 580, 000b/d.
The newspaper disclosed that the country suffered a loss of $75.4 million or N32.4bn daily based on the closure of the three oil terminals.
It was learned that Operated by Shell Petroleum Development Company, SPDC, the Forcados crude oil export terminal has been shut down since early August.
The stream is often the single largest export grade was said to have been shut down since December 2021 and it was due to a malfunctioning barge that obstructed a tanker path.
According to the Punch, repairs remain ongoing at the terminal and may be reopened in late September. Also, there have been production shut-ins at the terminal, which would be shipped immediately after the terminal is reopened.
The second terminal, the 180,000-barrel-a-day Trans Niger Pipeline, TNP, one of two that feed the Bonny oil terminal, has stopped transporting oil due to theft since June this year.