Monday, 14 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, Monday, March 14, 2022, for $1 dollar to naira = ₦416.19/$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 ₦416.19/$1 on Monday 14th, after it closed at ₦416.50 to a $1 on Friday, 11th 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 N575 and sell at N580 on Monday, March 14th 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 ₦416.19/$1 on 14th March and closed at ₦416.50/$1. Showing a change of 0.00.
According to data from FMDQ, forward rate went as high as ₦453.15 and as low as ₦414.00.
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.
NGX Releases 2021 Full Year Report, Pays N755m As Compensation
The Nigerian Exchange Group Plc (NGX) has released its 2021 full year report, stating that it paid N754.87 million as compensation to three of its Executive Directors.
In the report, the NGX said those that received the compensation include its Group Managing Director/Chief Executive Officer, Oscar Onyema; Chief Executive Officer, Temi Popoola and Chief Executive Officer (REGCO), Tinuade Awe.
The NGX said the amount paid to the three executive directors was a 78.41 percent increase from the N423.12 million compensation paid to them in 2020.
It stated that each of the executive directors took home an average of N251.6 million as compensation in the year under review.
This article was originally published on Nigeria News