Dollar to Naira Today December 23, 2021

Investors King will present the latest rate of the Dollar to Naira, both at the official market and the parallel market. 

How much is the exchange rate of Dollar to Naira today?

Below is the performance of the Naira against the dollar, as recorded on Wednesday 22^nd December 2021:

Dollar to Naira at the Black Market

On Wednesday, the black market saw the dollar being bought at a rate of N562 per dollar, and then sold at N565 per dollar.

Dollar to Naira at the Official Fx Window

The Dollar to Naira rate as at the close of business on Wednesday remained the same as the rate on Tuesday, settling at N415.10 per dollar, according to the Investors and Exporters window where the Naira is traded officially.

Wednesday’s opening saw the Dollar to Naira rate sit at N414.04 per dollar, but by Thursday the opening rate recognised a marginal rise to sit at N413.77 per dollar.

The Spot rate and Forward rate of the Dollar to Naira started to take shape again on Wednesday, returning to rates which for a long time were considered to be the usual for both rates.

The Spot rate traded at a very recognisable high of N404 per dollar, maintaining the low of N444 per dollar which it has seen for most, if not all of this week. The Forward rate has seen multiple fluctuations this week, unlike the Spot rate which has remained largely stable.

The Forward rate recorded a high of N411.35 per dollar, which is similar to a rate at which it sat consistently a few weeks back. It also recorded a highly familiar low of N453 per dollar, also from a few weeks ago.

The official daily turnover of the dollar on Wednesday sat at $215.29 million, more than $100m lower than the turnover recorded on Tuesday.

Heading into the festive period, this week has been one of consistency for the Dollar to Naira at the official fx window. The Naira maintained a similar range this week in all its openings and closing, not going beyond N413 – N415 per dollar.