The official rate today, Friday December 31st for $1 dollar to naira = ₦420.67/$1 while Black Market exchanges at 560.
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦420.67/$1 on Friday 31st, after it closed at ₦435.00 to a $1 on Thursday, 30th December 2021.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N560 and sell at N565 on Friday, December 31st 2021, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦420.67/$1 on 31st December 2021 after closing at ₦435.00/$1. Showing a change of 1.66%.
According to data from FMDQ, forex turnover stands at $227.29 million.
Please note that the exchange rate changes hourly depending on the volume of dollars available and the Demands.
This means that one can buy or sell 1 dollar at ₦555 and the price can change (high or low) within hours.
Vantage News will continue to give updates on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates and CBN rates.
Disclaimer
Comments expressed here do not reflect the opinions of Vantage News Nigeria or any employee thereof.
