Dollar To Naira Exchange Rate Today, 1 April 2022

Thursday, 31 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 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, Thursday, March 31, 2022, for $1 dollar to naira = ₦415.78/$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 ₦415.78/$1 on Thursday 31st, after it closed at ₦417.00 to a $1 on Wednesday, 30th 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 N582 and sell at N590 on Thursday, March 31st 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

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦415.78/$1 on 31st March, 2022 and closed at ₦416.17/$1. Showing a change of -0.20 and a daily turnover of $139.92 million.

According to data from FMDQ, forward rate went as high as ₦453.25 and as low as ₦416.30.

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.

Daily Basket Oil Price Now $110.46 Per Barrel – OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) has announced that the price of a basket of 13 crude oil samples traded at $110.46 per barrel on Wednesday.

In a report on its website on Wednesday, the organization said this shows the closing rate recoded was a huge drop when compared to 115.99 dollars per barrel it stood at the end of Friday last week.

The OPEC Reference Basket of Crudes (ORB) is made up of the Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Bonny Light (Nigeria), and Zafiro (Equatorial Guinea).

Others are Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).

This article was originally published on Nigeria News