Dollar to Naira exchange rate today
FELLOW PRESS brings you news on the dollar to naira exchange rate today 7 December 2021.
How much is Dollar to Naira Exchange at CBN Rate?
According to available data from the CBN, US dollar to naira exchange rate bought at ₦409.74 and sold at ₦411.74, making an average of ₦410.74 for $1 on Friday 3 December.
How Much Is Dollar To Naira Exchange Today At Official Rate?
The official rate today, dollar exchange to naira opened at ₦413.63 on Tuesday December 7, and closed at ₦415.00 on Monday December 6. This amount to 0.05 per cent decrease for naira against dollar.
The CBN adopts the NAFEX rates from FMDQ, signifying that all exchange rate transactions involving the public and the private sector will reference the prevailing NAFEX rate as its official exchange rate.
It is the official security exchange where foreign currencies (FOREX) is traded between naira and dollar and other currencies.
Current turnover at the forex market stands at ₦225.94m.
How Much Is Dollar To Naira Exchange Today at Bank Rate?
Each commercial banks is at their discretion to fix forex exchange rate. Factors can range from currency availability, demand against the prevailing rate.
See below bank rate of dollar to naira:
GTbank: ₦ 480
Ecobank: ₦ 480
Access Bank: ₦450
Sterling Bank: ₦480
Union Bank: ₦414
Stan Chart: ₦463
How much is exchange rate of Dollar to Naira in Black Market today?
According to Abuja Parallel Market as available with the Bureau De Change (BDC), US dollar to naira as at Tuesday December 7 opened at ₦560 to $1.
Although, the Central Bank of Nigeria (CBN) has warned individuals who need forex to approach commercial banks.
How much is 100 dollar in naira today?
When $100 is exchanged to naira, you will have ₦41,074 at CBN rate, ₦41,363 at forex market, and ₦56,000 at the Bureau De Change (BDC).
Meanwhile, the CBN’s cash reserve policy has been blamed for the decline in the interest income of commercial banks. Financial statements reveals N48.69bn representing 11.45 per cent decline in the last one year.