Christmas is only a few days away, and that naturally means that people will start to flock the markets to buy items (both edible and inedible) for the festivities. The rate of dollar to naira as of today December 20, 2021 has undoubtedly affected the prices of goods and services, especially imported goods. Therefore, high prices may impact Christmas celebrations across the country.
Dollar to Naira at Black Market
At the parallel market, also referred to as the black market, the exchange rate of dollar to naira sits between N568 per dollar to N570 per dollar on Monday, December 20, 2021. It should however be recalled that the Central Bank of Nigeria does not reckon with the parallel market as an official exchange rate source.
Dollar to Naira Exchange Rate at Official Market
According to the Investors and Exporters Window where the Naira is traded officially, the currency maintained its range to close at N415.07 per dollar on Friday. This was very close to the N415.05 per dollar rate at which it closed on Thursday, which is why it is said to be in the same range.
On Monday, December 20 2021, the Naira opened at N413.84 per dollar at the Investors & Exporters window. This is basically the same with the N413.83 per dollar which it had as its opening on Thursday.
The FMDQ group’s updates of the Spot and Forward rates saw a stability in the Spot rate but a change in the Forward rate, as has been the trend for a number of days now.
The Spot rate traded as high as N405 per dollar and a low of N444 per dollar. The Forward rate, which changes more often than the Spot rate, saw a significant drop as it fell to an extent that its high was only N446 per dollar compared to the N414 per dollar seen on Thursday, while its low sat at N460 per dollar.
The daily turnover as recorded by the FMDQ group sat at $151.03 million.
Bitcoin to Naira Exchange Rate
As at Monday, December 20 2021, Bitcoin is currently going for N19,047,794.80 per coin while Ethereum is going for N1,574,459.14 per coin.
