Dollar To Naira Exchange Rate Today (Black Market Rate)
Read Naija News update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦417.25/$1 on Thursday 6th, after it closed at ₦416.00 to a $1 on Wednesday, 5th January 2022.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N565 and sell at N567 on Thursday, January 6th 2022, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Read Also: BREAKING: Naira Falls At Black Market First Time In 2022, See New Exchange Rate
The exchange rate between the naira and the US dollar opened at ₦417.25/$1 on 6th January 2022 after closing at ₦416.00/$1. Showing a change of -1.49%.
According to data from FMDQ, forex turnover stands at $114.95 million.
Meanwhile, the non-payment of bills due to unused electricity has caused Electricity Generation Companies, GENCOs, a huge revenue loss between January and November 2021.
Authoritative industry reports made available to journalists showed that average Nigeria’s unutilized power generation dropped to 2,254.64 Megawatts, MW in 2021, from 3,742.43 MW in 2020.
The drop, Naija News understands is due mainly to lack of infrastructure.
At least a sum of N147.05 billion drop was recorded between January-November 2021, due to non-payment for unused electricity.
The above figure showed a huge slide from N256.03billion in the corresponding period of 2020, indicating a decrease of 42.6 per cent.
Specifically, the highest unutilised power, 3,291.15MW was recorded in September 2021 compared to 4,489.00MW recorded in April 2020, while the least unutilised power of 1,634.87MW was recorded in February 2021 compared to 2,081.00MW recorded in November 2020.
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