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Exchange Rate For Dollar To Naira Is $1 dollar To ₦415.58 As At 2 March

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The official rate as at Tuesday, March 1, 2022, for $1 dollar to naira is ₦415.58/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.58/$1 on Tuesday 1st, after it closed at ₦416.67 to a $1 on Monday, 28th January 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 N571 and sell at N576 on Tuesday, February 1st 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.

Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦415.58/$1 on 1st and closed at ₦416.67/$1. Showing a change of 0.00%.

According to data from FMDQ, forex daily turnover stands at $121.54 million.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦408.00

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.

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