Wednesday, 27th 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, Wednesday, April 27th, 2022, for $1 dollar to naira = ₦418.38/$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 ₦418.38/$1 on Wednesday 27th, after it closed at ₦418.50 to a $1 on Tuesday, 26th 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 N586 on Wednesday, April 27th 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 | 586 |
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦418.38/$1 on 27th April, 2022 and closed at ₦419.33/$1. Showing a change of 0.20% and a daily turnover of $82.56 million.
According to data from FMDQ, forward rate went as high as ₦452.65 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.
Economic Recovery: World Bank To Give $170bn To Nigeria, Others
The President of the World Bank Group, David Malpass, says the bank is planning to help Nigeria and other crisis-ridden countries overcome their economic woes.
Malpass said the bank will give around $170bn in financing capacity to address the need of the countries between April 2022 and June 2023.
He made this known on Sunday during his address to the Development Committee of the 2022 World Bank/International Monetary Fund Spring Meetings in Washington D.C., US.
The World Bank boss stated that the latest financial response was modelled after its response to COVID-19 last year.
This article was originally published on Nigeria News