This is the news about Dollar to Naira rate at the official and black market exchange rate Today December 7, 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, Tuesday December 7th, for $1 dollar to naira = ₦(yet to be disclosed)/$1.
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 ₦(yet to be disclosed)/$1 on Tuesday 7th, after it closed at ₦415.00 to a $1 on Monday, 6th 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 N560 and sell for N562 on Tuesday, December 7th 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 ₦413.85/$1 on 6th December 2021 and closed at ₦415.00/$1. Showing a change of 0.06.
According to data from FMDQ, forex turnover stands at $225.94 million.
Meanwhile, some Large-cap stocks recorded price losses as the Nigerian stock market declined by N598 billion at the end of last week.
The NGX All-Share Index depreciated by 2.63 per cent to close the week at 42,167.91 basis points from 43,308.29bps while the market capitalisation of stocks fell to N22tn from N22.6tn.
All other indices finished lower, with the exception of the NGX Insurance Index, which appreciated by 2.97 per cent, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat, according to The PUNCH.
Investors on the floor of the NGX traded a total turnover of 1.28 billion shares worth N17.34bn in 21,052 last week, in contrast to a total of 3.44 billion shares valued at N30.92bn that exchanged hands in 21,109 deals the previous week.
Measured by volume, the financial services industry led the activity chart with 984.543 million shares valued at N10.25bn traded in 11,029 deals.
It contributed 77.01 per cent and 59.09 per cent to the total equity turnover volume and value respectively.