NewsOne has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.
What Is The Official Exchange Rate For Dollar To Naira Today?
The exchange rate between the Naira and the US dollar at the official forex market showed that the Naira opened at ₦413.3062 per dollar on Wednesday, May 11, 2022, after closing at ₦ 415.1768 per $1 Tuesday, May 10, 2022.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 584 |
| Selling Rate | 588 |
Newsone Nigeria reports that on the black market, the players buy a dollar for N584 and sell for N588 on Tuesday, May 10, 2022, after they bought N584 and sold for N588 on Monday, May 9, 2022.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦588 in Parallel Market also known as Black Market on Monday, May 9, 2022, in Lagos Nigeria, after it opened at 589 last week Monday, May 2, 2022.
Even though the dollar opened in the parallel market for ₦588 per $1 today, the CBN does not recognise the parallel market
, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said during a press briefing on September 17, 2021.
Source; https://newsoneng.com/dollar-to-naira-exchange-rate-for-today-11-may-2022-official-black-market/