Dollar To Naira Exchange Rate Today, 4 May 2022

By: Godwin Offor / May 4, 2022 / 769

Friday, 29th April 2022: This is the news about the Dollar to Naira rate at the official and black market exchange rate.

Read Naija News update on the official dollar rate in nigeria 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?

The official rate today, Friday, April 29th, 2022, for $1 dollar to naira = ₦417.30/$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 ₦417.30/$1 on Friday 29th, after it closed at ₦418.50 to a $1 on Thursday, 28th April 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.

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

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N570 and sell at N587 on Tuesday, May 3rd 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 Black Market Rate Today

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 570
Selling Rate 587

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦417.30/$1 on 29th April, 2022 and closed at ₦419.00/$1. Showing a change of 0.12% and a daily turnover of $158.55 million.

According to data from FMDQ, forward rate went as high as ₦452.15 and as low as ₦423.85.

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.

Overdue Debt Repayment Weak In Most States – DMO Warns

The Director-General, Debt Management Office, Patience Oniha has revealed what threatens debt sustainability in some states in Nigeria.

According to Oniha, the difficulty of some state governments in paying arrears has threatened the level of debt sustainability in some states.

Oniha disclosed this in a presentation document titled ‘Paths to sustainable debt management: the SFTAS approach.’

Oniha was represented by Isiaku Mohammed during the workshop for finance journalists in Abuja by the State Fiscal Transparency, Accountability and Sustainability Office.

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