Black Market, Official Dollar to Naira exchange rate today, Wednesday 16 March 2022

JUST IN: Dollar To Naira Exchange Rate/Black Market Rate - Naija News 247
JUST IN: Dollar To Naira Exchange Rate/Black Market Rate

Good Morning! On Naija News 247, this article will discuss the exchange rate for dollars to naira at Black Market and the official currency for today, Wednesday, 16 March 2022.

How much is Dollar to Naira official rate today?

The official rate of 1$ to Naira for today, Wednesday, 16th March 2022 = ₦416.04/$1

The information gathered via Financial Markets Dealers Quotations (FMDQ) Security Exchange where forex is exchanged formally unveiled that the authorized conversion rate between the Naira and the US dollar opened at ₦416.04/$1 on Tuesday 15th, after it shut at ₦416.50 to a $1 on Monday, 14th March 2022.

You should, however, know that the Nigerian government-owned bank, the Central Bank of Nigeria (CBN) does not recognize the Black Market as the apex bank advises anyone engaging in Forex to instead visit the banks.

The forward rate was ₦453.15 high and ₦420.00 low per FMDQ Data.

More on Naija News:  AbokiFX: Today Dollar to Naira exchange rate 12 November, 2021

The price at the Spot rate

The sales of dollar to the naira was at the highest rate of ₦444.00 and the lowest point of ₦410.00

A spot conversion rate is the current cost level in the market to trade one money for another for conveyance out on the earliest reasonable worth date.

Olajire Taofeek
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