Dollar to Naira
Exchange office clerk counts U.S. dollars in Istanbul. Onur Coban/Anadolu Agency/Getty Images

The official exchange rate today, Tuesday  January 4 2022 for $1 dollar to naira =₦426.25/$1 while Black Market exchanges at 575.

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 ₦426.25/$1 on Tuesday, January 4, after it closed at ₦435.00 to $1 on Friday, 31th December 2021.

How much is exchange rate of Dollar to Naira in Black Market today?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N570 and sell at N575 on Tuesday, January 4th 2022, 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 ₦426.25/$1 on 4th January 2022 after closing at ₦435.00/$1. Showing a change of 1.33%.

According to data from FMDQ, forex turnover stands at $150.26 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.

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