This is the news about Dollar to Naira rate at the official and black market exchange rate Today December 9, 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, Thursday December 9th, for $1 dollar to naira = ₦(yet to be disclosed)$1.
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 ₦(yet to be disclosed)/$1 on Thursday 9th, after it closed at ₦415.07 to a $1 on Wednesday, 8th December 2021.
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) players buy a dollar for N562 and sell for N567 on Thursday, December 9th 2021, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦413.71/$1 on 8th December 2021 and closed at ₦415.07/$.
According to data from FMDQ, forex turnover stands at $225.99 million.
Meanwhile, the National Bureau of Statistics has disclosed that Nigeria’s total foreign trade rose to N13.3 trillion in the third quarter of the year.
Naija News reports that this was disclosed on Monday by the Statistician-General of the Federation, Simon Harry, during a press briefing on the Q3 Foreign Trade Report held in Abuja.
According to Harry, the N13.3 trillion trade comprises N8.2 trillion imports and N5.1 trillion exports, resulting in a trade deficit of N3.03 trillion.
The NBS boss stated that total imports expenditure rose by N1.3 trillion from N6.95 trillion recorded in the second quarter of 2021.
He stated that the rise in imports was driven majorly by an increase in the importation of commodities such as motor spirits (N1.1 trillion), Gas Oil (N225.6 billion), imported motorcycles and cycles and CKD valued at N116.3 billion from N94.7 billion, respectively.
This article was originally published on Naija News