Thursday, 21 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 21st, 2022, for $1 dollar to naira = ₦417.81/$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 ₦417.81/$1 on Thursday 21st, after it closed at ₦418.33 to a $1 on Wednesday, 20th 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 N588 on Thursday, April 21st 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 | 588 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦417.81/$1 on 21st April, 2022 and closed at ₦419.50/$1. Showing a change of 0.28% and a daily turnover of $124.85 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.
$2.6bn Gas Pipeline’ll Boost Midstream, Upstream Activities – Oilserv
The Group Chairman Oilserv Limited, Emeka Okwuosa, on Wednesday noted that the aim of developing the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project is to boost activities in the midstream and upstream arms of the oil and gas industry and others.
Okwuosa further stated that the pipeline would significantly contribute in addressing Nigeria’s gas supply demands.
The Group Chairman while addressing newsmen said, “When we talk about AKK, the pipeline is significant to the North and to the South. I want to make it clear that by building AKK, we are able to move gas and satisfy the midstream activities.
“This also spurs the upstream activities that will happen in the South. There is still an arm of this project that is yet to be done. And that is QIT in Akwa Ibom State. QIT to Ajaokuta pipeline is what makes up the other half of the South to the North gas pipeline. AKK is one part of it and it is significant. But it is most significant to Nigeria.”
This article was originally published on Nigeria News