Here is dollar to naira exchange rate for today December 21, 2021 at the official and black market ahead of Christmas and New Year holidays.
Read Investors King daily update on dollar to naira exchange rates for the Black Market, Bureau De Change (BDC) and the Central Bank of Nigeria (CBN).
Dollar to Naira Black Market Today
The dollar to naira exchange rate remained well above N550 at the parallel market popularly known as the black market. The Nigerian Naira was exchanged at N567 to American Dollar on December 21st 2021, according to sources at the unregulated forex market.
The CBN had blamed black market operators for Nigeria’s unstable forex market. The apex bank accused operators, including Bureau de change, of manipulating the forex market for personal gain. CBN eventually stopped the sale of forex to bureau de change and discouraged Nigerians from patronising the black market for the forex need.
Dollar to Naira Official Market Today
The dollar to naira exchange rate opened at N414.11 on Tuesday at the Investors and Exporters Forex Window managed by the FMDQ. The represents an increase of 0.07 percent from N414.80 it closed on Monday. On Monday, investors transactions $360.18 million.
At the spot fx market, Naira slid to as low as N444 against the United States Dollar and N469.51 in the forward fx market.
The CBN adopted the FMDQ managed forex rates as the official foreign exchange rate in a move to converge Nigeria’s exchange rates in line with the agreement reached with the International Monetary Fund (IMF) and World Bank. Therefore, FMDQ rate is now the official exchange rate for investors and exporters looking to access forex for their daily news.
Bitcoin to Naira Exchange Rate
Bitcoin to Naira exchange rate was flat in the last 24 hours at N20.044 million per coin. Still, uncertain caused by omicron and US Fed’s likelihood of hiking interest rates in 2022 continued to impact the entire cryptocurrency space.
Eth, ethereum owned coin and the second largest cryptocurrency, also was flat at N1.653 million per coin ahead of the Christmas holiday.
