Wednesday, 22nd June: 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.
The official rate today, Wednesday, June 22nd, 2022, for $1 dollar to naira = ₦419.46/$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 ₦419.46/$1 on Wednesday 22nd after it closed at ₦420.27 to a $1 on Tuesday, 21st June 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 N590 and sell at N610 on Wednesday, June 22nd 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|
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦419.46/$1 on 22nd June, 2022 and closed at ₦420.50/$1. Showing a change of 0.05% and a daily turnover of $71.99 million.
According to data from FMDQ, forward rate went as high as ₦453.55 and as low as ₦420.00.
Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦412.00.
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.
The effect of the Russia-Ukraine war and COVID-19 will see the Nigerian airlines and others across Africa lose $700 million in 2022, according to the International Air Transport Association.
IATA made this claim at the ongoing 78th IATA Annual General Meeting and World Air Transport Summit in Doha, Qatar.
According to IATA, the growth of the aviation industry globally will be affected by inflation, interest and exchange rates.
IATA charged countries to learn from the COVID-19 pandemic.
The IATA’s Director-General, Willie Walsh while speaking at the summit said, “Governments must have learned their lessons from the COVID-19 crisis. Border closures create economic pain but deliver little in terms of controlling the spread of the virus. With high levels of population immunity, advanced treatment methods, and surveillance procedures, the risks of COVID-19 can be managed. At present, there are no circumstances where the human and economic costs of further COVID-19 border closures could be justified.”