Dollar To Naira Exchange Rate Today, 3 March 2022

Wednesday, 2 March 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 rates 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, Wednesday, March 2, 2022, for $1 dollar to naira = ₦415.63/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.63/$1 on Wednesday 2nd, after it closed at ₦416.67 to a $1 on Tuesday, 1st March 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 N571 and sell at N576 on Wednesday, March 2nd 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.

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦415.63/$1 on 2nd, March and closed at ₦416.50/$1. Showing a change of -0.04%.

According to data from FMDQ, forex daily turnover stands at $91.21 million.

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.

Dangote Cement Proposes ₦20/Share As Revenue Hits ₦1.38tn

After ending the year 2021 with a sumptuous revenue to the tune of N1.38 trillion, Dangote Cement Plc proposed a dividend of ₦20/Share.

The company disclosed this in a statement released on Tuesday through its Chief Executive Officer, Michel Puchercos.

Naija News reports that the CEO while speaking on Tuesday in Lagos, said the company’s commitment to environmental disclosure and sustainability yielded desired results last year with the Carbon Disclosure Project which increased the company’s rating.

As revealed in the company’s financial report for the full year that ended December 31, 2021, it recorded revenue worth N1.38 trillion made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, against the N1.03 trillion in 2020, translating to 33.78 per cent increase.

This article was originally published on Nigeria News