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, 19th 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, Monday, September 19th, 2022, for 1 dollar to naira = ₦434.38/$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 ₦434.38/$1 on Monday 19th September and closed at ₦436.50 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.
A report from Alliance for Affordable Internet (A4AI) has disclosed that the average cost of a smartphone is about 37.46 percent of an average monthly income in Nigeria.
The report states that the average cost of a smartphone in Nigeria was N24,999.
A4AI report revealed that 2.5 billion people all over the world paid more than 30 per cent of their monthly income to purchase the cheapest smartphones available in their markets.
It noted that smartphones enabled digital participation but had been unaffordable for many worldwide, especially in low-and-middle-income countries.
The A4AI said, “At present, countries are not doing enough to better understand what can be done to improve smartphone affordability.”