What the markets say on the Dollar to Naira exchange rate today, Wednesday 29th December, 2021

58 views 11:00 am 0 Comments December 29, 2021

This is the news report on the Dollar to Naira exchange rate at the official and black market today Wednesday, 29th December, 2021 as gathered by Naija Catapult.

What is the Dollar to Naira exchange rate today?

OFFICIAL RATE:

The official exchange rate of one dollar (USD1) to naira (NGN) today Wednesday 29th December, 2021 = NGN414.03 per USD1.

According to the data at the FMDQ Security Exchange where Forex is officially traded, exchange rate between US dollar and the Nigeria naira opened at NGN/414.03USD1 today Wednesday 29th December, 2021 after closing at NGN415.10/USD1 on Friday, 24th December, 2021.

BLACK MARKET:

The exchange rate of dollar to naira at the Lagos Parallel Market – Black market today, Wednesday 29th December, 2021, traders buy a dollar (USD1) at NGN560 and sell at NGN565, according to sources at the Bureau De Change (BDC).

It is important to note that; The Central Bank of Nigeria (CBN) does not in any way recognize the Parallel market Known popularly as Black market, as it has directed individuals who want to engage in Forex to approach their banks respectively.

OFFICIAL NAFEX WINDOW:

The exchange rate of dollar to naira opened at NGN414.03/USD1 on Wednesday 29th December, 2021 after closing at NGN415.10/USD1 on Friday 24th 2021. The market change shows a difference of  0.12% appropriately.

Thus, sourced data stands at USD168.62 million, from FMDQ, Forex turnover accordingly.

Read Naija Catapult updates on the official Dollar to Naira rates, Black market rates and Bureau De Change (BDC) rates on Mondays to Fridays daily.

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