Dollar To Naira Exchange Rate Today, 26 April 2022
Monday, 25th April 2022: This is the news about the Dollar to Naira rate at the official and black market exchange rate.
Read Naija News update on the official dollar rate in nigeria as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Monday, April 25th, 2022, for $1 dollar to naira = ₦416.92/$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 ₦416.92/$1 on Monday 25th, after it closed at ₦418.33 to a $1 on Friday, 22nd April 2022.
Naija News reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.
How much is a dollar to naira today in the black market?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N570 and sell at N615 on Monday, April 25th 2022, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Buying Rate
570
Selling Rate
615
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦416.92/$1 on 25th April, 2022 and closed at ₦417.30/$1. Showing a change of -0.25% and a daily turnover of $291.09 million.
According to data from FMDQ, forward rate went as high as ₦453.15 and as low as ₦423.85.
Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00.
A spot exchange rate is the current price level in the market to directly exchange one currency for another, for delivery on the earliest possible value date.
Energy, Food Price Hike Looms In Nigeria, Others – AfDB
The African Development Bank Group has alerted African nations including Nigeria of a looming hike in the price of food, and energy among others in the coming months.
The multilateral development finance institution noted in a statement that the global food crisis was further triggered by the ongoing war in Europe between Russia and Ukraine.
AfDB President, Dr Akinwumi Adesina, revealed this during the weekend while speaking as a guest at the Atlantic Council’s Africa Center, Naija News understands.
According to Adesina, the costs of fertilizer, rising energy prices, and rising costs of food baskets, could worsen in Africa in the days ahead.
This article was originally published on Nigeria News
