Thursday, 21st July: 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.
The official rate today, Thursday, July 21st, 2022, for $1 dollar to naira = ₦426.88/$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 ₦426.88/$1 on Thursday 21st July, after it closed at ₦426.58 to a $1 on Wednesday, 20th July 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?
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|
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦426.88/$1 on 21st July, 2022 and closed at ₦426.00/$1. Showing a change of -0.14% and a daily turnover of $180.56 million.
According to data from FMDQ, forward rate went as high as ₦424.50 and as low as ₦424.50.
Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦414.00.
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.
The Senate has passed the Nigerian Start-up Bill, 2022, following the consideration of a report by the Committee on ICT and Cyber Security on Wednesday.
In his presentation, the Chairman of the Committee, Senator Oseni Yakubu (APC Kogi Central) disclosed that the bill will create the National Council for Digital Innovation and Entrepreneurship.
According to him, the council, upon its establishment, would create and develop an enabling environment for technology-enabled start-ups in Nigeria.
Meanwhile, another bill for an act to provide for the ease of doing business to ensure transparency, efficiency, and productivity in Nigeria and for other related matters, scaled second reading in the senate.
The bill was sponsored by the Deputy Senate Leader, Senator Ajayi Boroffice (APC – Ondo North).
After consideration, the bill was referred, by the Senate President, Ahmad Lawan, to the Committee on Trade and Investment for further legislative input.