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, 15th 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, Thursday, September 15th, 2022, for 1 dollar to naira = ₦434.75/$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 ₦434.75/$1 on Thursday 15th September and closed at ₦436.33 to $1.
US Dollar to Naira Black Market Rate Today, 15th September 2022.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 700 |
| Selling Rate | 711 |
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.
Nigeria’s Food Inflation Rate Rises By 2.82 As Price Of Goods, Services Surge By 20.52%
The National Bureau of Statistics (NBS) has released yet another worrisome report on the rise in the price of goods and services in the country.
The government agency in its latest report noted that the consumer price index (CPI) which measures the rate of change in prices of goods and services, rose to 20.52 per cent in August 2022, showing a difference of 19.64 per cent when compared to figures in the previous month.
Naija News understands that the interpretation of these is that, Nigeria’s food inflation rate and other services have just hit the highest since October 2005.
NBS noted in the CPI report for August 2022 made available for public consumption on Thursday, September 15, that the rate increase recorded as of August this year was 3.52 per cent higher than the 17.01 per cent recorded in August 2021.
According to the report, increases were recorded in all classifications of individual consumption according to purpose (COICOP) divisions that yielded the headline index.