This is the news about Dollar to Naira rate at the official and black market exchange rate Today December 2, 2021.
Read Benco news update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Wednesday December 2nd, for $1 dollar to naira = ₦413.94/$1.
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According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦413.94/$1 on Thursday 2nd, after it closed at ₦415.07 to a $1 on Wednesday, 1st December 2021.
How much is exchange rate of Dollar to Naira in Black Market today?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N555 and sell for 558 on Thursday, December 2 2021, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise 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 ₦413.94/$1 on 2nd December 2021 after closing at ₦415.07/$1. Showing a change of 0.04.
According to data from FMDQ, forex turnover stands at $223.18 million.
Meanwhile, Governor Godwin Obaseki on Wednesday presented a N214.2 billion budget to the Edo State House of Assembly, for the 2022 fiscal year.
Benco news reports that the 2022 budget represented a 32.96 percent increase from the N161.1 budgeted for the year 2021.
Obaseki, who presented the budget to the Assembly sitting at the newly renovated Anthony Enahoro Assembly Complex in Benin City, said the budget comprises N118.3 billion for capital and N95.9 billion for recurrent expenditure.
According to the governor, the document, christened, ‘Budget of Renewal, Hope and Growth’, seeks to enhance reforms in government process, stimulate economic prosperity and improve ease of doing business to continuously attract private capital to engender sustainable development.
Obaseki said the total projected revenue for 2022 is N186 billion, consisting N65 billion statutory allocation; Value Added Tax (VAT) of N23 billion; IGR, N50.3billion and N11.6billion from grants, among others.