CareersBusinessDollar To Naira Exchange Rate Today, 25 March 2022

    Dollar To Naira Exchange Rate Today, 25 March 2022

    Dollar To Naira Exchange Rate Today, 25 March 2022 can be accessed below.

    Today Friday, 25 March 2022: This is the news about the Dollar to Naira rate at the official and black market exchange rate.

    Read Bennievibez’s 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, Friday, March 25, 2022, for $1 dollar to naira = ₦416.30/$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 ₦416.30/$1 on Friday 25th, after it closed at ₦417.00 to a $1 on Wednesday, 24th March 2022.

    Bennievibezreports 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 N578 and sell at N585 on Friday, March 25th, 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 ₦416.30/$1 on 25th March 2022 and closed at ₦416.00/$1. Showing a change of -0.24 and a daily turnover of $142.95 million.

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    According to data from FMDQ, the forward rate went as high as ₦453.25 and as low as ₦419.98.

    Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00.

    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.
    FAAC: Federal Govt, States And LGAs Share N590.546bn For February (See Details)

    The sum of N590.546bn was shared as allocations between the Federal, State, and Local Government Areas in Nigeria in the month of February 2022.

    Bennievibez gathered that the Federation Accounts Allocation Committee (FAAC) made this known in a communiqué issued at the end of its virtual monthly meeting on Tuesday in Abuja.

    According to the FAAC, the amount shared between the three decks of government represented an increase of N15.8bn when compared to the N574.7bn distributed in January.

    The committee revealed that the Federal Government received N236.1bn, the State Governments got N190bn and the Local Government Councils received N140.6bn.


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