Thursday, 14 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, Thursday, April 14th, 2022, for $1 dollar to naira = ₦417.40/$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 ₦417.40/$1 on Thursday 14th, after it closed at ₦416.67 to a $1 on Wednesday, 13th 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 N570 and sell at N590 on Thursday, April 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.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 570 |
| Selling Rate | 590 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦417.40/$1 on 14th April, 2022 and closed at ₦417.50/$1. Showing a change of 0.20% and a daily turnover of $196.28 million.
According to data from FMDQ, forward rate went as high as ₦453.15 and as low as ₦415.50.
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.
Zenith, Access, GTBank, UBA’s Foreign Subsidiaries’ Contribution To Revenues Rise To 29.5%
Four Nigerian commercial banks, the United Bank for Africa Plc (UBA), Access Bank Plc, Zenith Bank Plc and Guaranty Trust Bank Plc (GTBank), reportedly raked in about 29.5 per cent of their combined profit before tax in their 2021 financial year ended December 31, 2021, from foreign subsidiaries.
The figures were reportedly earned from the foreign subsidiaries of the financial institutions, compared with the 23.3 per cent contribution to profit before tax recorded by the banks in their 2020 audited financial statement.
The financial institutions which have spread their business operation across Europe, and Asia, generated the sum of N245.47 billion, in terms of value within the time frame from their foreign subsidiaries.
This was an increase of 43 per cent, compared with the N171.83 billion recorded in 2020, Naija News understands.
This article was originally published on Nigeria News