What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 26th September 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market, or parallel market rate.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Monday, September 26th, 2022, for 1 dollar to naira = ₦435.67/$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 ₦435.67/$1 on Monday 26th September, and closed at ₦436.00 to $1.
US Dollar to Naira Black Market Rate Today, 25th September 2022.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 710 |
| Selling Rate | 725 |
Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and the demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).
Factors that could Influence Foreign Exchange Rates in Nigeria
- Conditions of Trade
- Speculators
- Government Debt
- Interest Rates
- Inflation Rates
Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.
Financial analysts have alerted Nigerians that there may be an increase in interest rates in the coming months.
The observation was raised after the Central Bank of Nigeria (CBN) announced the schedule of its 287th meeting of the Monetary Policy.
The event according to the memo would hold on Monday (today) and Tuesday in Abuja.
With respect to this, some analysts at Cordos noted that the apex bank’s Monetary Policy Committee (MPC) may in the coming months hike interest.
The development according to them may be taken at the MPC’s next meeting.
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