What the markets say on the Dollar to Naira exchange rate today, Wednesday 5th January, 2022

78 views 8:41 am 0 Comments January 5, 2022

This is the news report on the Dollar to Naira exchange rate at the official and black market today Wednesday, 5th January, 2022 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 5th January, 2022 = NGN423.56 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 NGN423.56/USD1 today Wednesday 5th January, 2022 after closing at NGN422.67/USD1 on Tuesday 4th January, 2022.

BLACK MARKET:

The exchange rate of dollar to naira at the Lagos Parallel Market – Black market today, Wednesday 5th January, 2022, traders buy a dollar (USD1) at NGN570 and sell at NGN575, 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 NGN423.56/USD1 on Wednesday 5th January, 2022 after closing at NGN422.67/USD1. The market change shows a difference of  -0.63%  appropriately.

Thus, sourced data stands at USD109.07 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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