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 August 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, Friday, August 26th, 2022, for 1 dollar to naira = ₦429.75/$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 ₦429.75/$1 on Friday 26th August and closed at ₦430.67 to $1.
US Dollar to Naira Black Market Rate Today, 25th August 2022.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 675 |
| Selling Rate | 691 |
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.
Crude Oil Theft: FG Recovers N86.2bn Through Security Agencies In One Month
After nabbing illegal oil traders from different locations and operations across the country, statistics show that Nigerian security agencies recovered crude oil worth N86.2bn in August alone.
Naija News understands that the said figures were accumulated after a total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday recovered by members of the Nigeria Security and Civil Defence Corps in Cross River.
The Rivers State NSCDC Commandant, Samuel Fadeyi had told newsmen earlier that the stolen products, which were mainly Automotive Gas Oil also known as diesel, were recovered within the last two weeks.
The development was recorded days after the Nigeria Customs Service, NCS, Seme Area Command reported that it intercepted 3,998 jerry cans of Premium Motor Spirit, PMS, in 30 litres each, equivalent to 119,940 litres.
The products, according to the Customs Area Controller, Bello Mohammed Jibo, were about four tanker loads of 33,000 litres each.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, recently approved a price of N191 per litre of PMS (the highest range). An estimation of how much Nigeria would have lost had the 119, 940 litres made it to the Republic of Benin would have been
