Monday, 11 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 11th, 2022, for $1 dollar to naira = ₦416.15/$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 ₦416.15/$1 on Monday 11th, after it closed at ₦416.67 to a $1 on Friday, 8th 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 N550 and sell at N600 on Monday, April 11th 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 | 550 |
| Selling Rate | 600 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦416.15/$1 on 11th April, 2022 and closed at ₦417.00/$1. Showing a change of 0.08% and a daily turnover of $127.12 million.
According to data from FMDQ, forward rate went as high as ₦453.15 and as low as ₦419.98.
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 Non-oil Exports Fall By 39% In 10 Years – NBS
The National Bureau of Statistics (NBS) has said the country’s non-oil exports have fallen by 39 percent from N6.914tn to N4.194tn in 10 years.
According to statistics released by the bureau’s Foreign Trade Statistics, the N4.194tn non-oil exports recorded in 2021 are 39.34 per cent lower than the N6.914tn non-oil exports recorded in 2012.
In 2012, Nigeria’s total exports amounted to N22.446tn. Out of this number, N15.531tn was crude oil export while N6.914tn was non-oil export. The non-oil exports comprised 30.8 per cent of the total exports that year.
However, in 2021 the nation’s total exports were estimated at N19.057tn, with the non-oil segment occupying N4.194tn. The non-oil exports comprised 22.07 per cent of the total exports last year.
This article was originally published on Nigeria News