This is the news about Dollar to Naira rate at the official and black market exchange rate Today October 8, 2021.
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, Friday October 8, for $1 dollar to naira = N414.44
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at N414.73/$1 on Thursday, October 7 and closed at N414.67/$1.
This data shows that the naira gained (marginally) against the dollar at 0.01% at the official Investors and Exporters foreign exchange window.
How much is exchange rate of Dollar to Naira in Black Market today?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Friday, October 8, stands between 570 to 590/$1.
This shows fluctuations in the black market rate, when compared to how it opened locally on Thursday, October 7, 202 at N574.00 per $1 and closed at N570/$1.
Trading at the official NAFEX window
The official exchange rate appreciated against the US dollar on Thursday, 7th October 2021, although marginally.
This is against how it closed at N414.73 per $1 on Wednesday, 6 October 2021.
Data from the FMDQ shows that Nigeria’s foreign exchange decreased significantly from $266.32 million recorded on Wednesday, October 6th to $124.35 million on Thursday 7th October 2021.
Naira to a dollar has recorded a steady increase following latest measures put in place the the Central Bank of Nigeria (CBN).
Naija News reports that since the arrest threat made against the founder of AbokiFX, the naira started a gradual appreciation against the dollar.
This article was originally published on Naija News