Read Truetells Nigeria update on the official dollar rate in nigeria as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦416.25/$1 on Wednesday 30th, after it closed at ₦417.00 to a $1 on Tuesday, 29th March 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.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N574 and sell at N590 on Wednesday, March 30th 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 (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 574 |
| Selling Rate | 590 |
The exchange rate between the naira and the US dollar opened at ₦416.25/$1 on 30th March, 2022 and closed at ₦417.00/$1. Showing a change of … and a daily turnover of $147.41 million.
According to data from FMDQ, forward rate went as high as ₦453.25 and as low as ₦430.00.
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.
Popular commercial bank, Ecobank Nigeria has announced that its operating income dropped by 17 percent to $223 million in 2021.
The commercial bank also disclosed that its Net Interest Income also dropped from $161 million reported in 2020 to $91 million last year.
Naija News reports that the bank made this known in its 2021 Full Year Financial Statements released on Tuesday.
The bank added that the figure was $46 million lower than the $269 million recorded in 2020.
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