Tuesday, 17th May: 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, Tuesday, May 17th, 2022, for $1 dollar to naira = ₦417.42/$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 ₦417.42/$1 on Tuesday 17th, after it closed at ₦421.50 to a $1 on Monday, 16th May 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 N595 on Tuesday, May 17th 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 | 595 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦417.42/$1 on 17th May, 2022 and closed at ₦418.50/$1. Showing a change of -0.71% and a daily turnover of $105.11 million.
According to data from FMDQ, forward rate went as high as ₦432.00 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.
FIRS Lauds 20 Top Performing Tax Companies
The Federal Inland Revenue Service on Monday lauded twenty top-performing tax companies whose compliances helped the service surpass its N6 trillion tax collection target in 2021.
The Executive Chairman of FIRS, Muhammad Nami in a statement released on Monday disclosed that the feat was achieved due to the uncommon leadership of the President Muhammadu Buhari, the active support of its supervisor, the Federal Ministry of Finance, Budget and National Planning, the backing of the National Assembly and its leadership as well as the cooperation of all other stakeholders in the tax system.
The companies commended by FIRS in the statement include the Nigeria Liquefied Petroleum Gas (NLPG) Company Limited, Nigeria National Petroleum Company (NNPC) Limited, Mobil Producing Unlimited, Star Deep Water Petroleum Limited, MTN Nigeria Communications Plc, Shell Petroleum Development Company Limited, Chevron Nigeria Limited, Total E& P Nigeria Limited, Airtel Networks Limited, Nigerian Petroleum Development Company Limited, Nestle Nigeria Plc, and Dangote Cement.
Others were Nigerian Breweries Plc, Total Upstream Nigeria Limited, Indorama Eleme Petrochemicals Limited, Nigeria Agip Oil Company Limited, British American Tobacco Marketing, Guaranty Trust Bank Plc, Stanbic IBTC Bank Plc and Lafarge Africa Plc.
This article was originally published on Nigeria News