Wednesday, 6 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, Wednesday, April 6, 2022, for $1 dollar to naira = ₦416.30/$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 ₦416.30/$1 on Wednesday 6th, after it closed at ₦416.83 to a $1 on Tuesday, 5th 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 N580 and sell at N600 on Wednesday, April 6th 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 | 580 |
| Selling Rate | 600 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦416.30/$1 on 6th April, 2022 and closed at ₦416.50/$1. Showing a change of %-0.08 and a daily turnover of $155.16 million.
According to data from FMDQ, forward rate went as high as ₦452.65 and as low as ₦417.00.
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.
Nigeria’s Debt Stock To Increase By N720 Billion In 2nd Quarter – DMO
Nigeria’s debt stock is expected to increase by a total sum of N720 billion in the second quarter of the year 2022.
This revelation is contained in a statement issued by the Debt Management Office.
Naija News understands that the country’s total debt stock as of December 2021 was N39.55trillion.
The new document made available to newsmen on Tuesday, however, explained the schedule of local borrowings that will result in the seven hundred and twenty billion increase in debt stock.
As contained in the Federal Government bonds issuance calendar for the second quarter of 2022, a new 2032 FGN bond, valued at between N70billion to N80billion, with a tenor of 10 years would be opened on April 25.
The bond has an interest rate of 13 per cent per annum, Naija News understands.
This article was originally published on Nigeria News