Dollar to naira exchange rate / black market rate – Naira is selling at ₦415.68


Thursday, February 3, 2022: Here is the information on the exchange rate of the dollar against the naira at the official and black market exchange rate.

Read Naija News update on official dollar rates as well as Black market rates, Bureau de change (BDC) rates, and CBN rate.

The official rate today, Thursday, February 3, 2022for $1 dollar in naira = ₦415.68/$1.

According to data at FMDQ Security exchange where forex is officially traded, the exchange rate between the naira and the US dollar has opened at ₦415.68/$1 on Thursday 3, after it closes at ₦416.25 at $1 on Wednesday, January 2, 2022.

Naija News reports that the dollar to naira exchange rate maintained an average of N416.69 to a dollar since the beginning of the new year.

How much is a dollar to a naira today on the black market?

The exchange rate of a dollar to naira in Lagos Parallel market (black market) players buy a dollar for N565 and sell at N570 on Thursday February 3, 2022, according to sources at Currency Exchange (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 approach their respective banks.

Negotiate at the official NAFEX counter

The exchange rate between the naira and the US dollar opened at ₦415.68/$1 on February 3, 2022 and closed at ₦416.07/$1. Display of a change of -0.04%.

According to data from FMDQdaily forex turnover is $162.70 million.

Spot rate: Dollar sold to naira as high as ₦444.00 and as low as ₦408.00

A spot exchange rate is the current price level in the market to directly exchange one currency for anotherfor delivery on the earliest possible value date.

In the meantime, are you curious about the current prices of foodstuffs in nigeria?

Naija News is here to bring you weekly food prices from different states and markets.

As you may know, food prices in Nigeria have recently been significantly affected by the unstable rate of inflation.

Except for local farmers who produce crops mainly for personal consumption and also to sell in portions, going to the market to buy foodstuffs to consume on that day could be heartbreaking due to the high prices.

Meanwhile, market experts have warned that food prices will continue to rise as farming has become unsustainable due to issues such as high farm equipment costs, floods and insecurity.


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