The value of the naira has seen a stable position in recent days, with a few marginal changes here and there. The naira’s decline is due to the increased demand for the dollar, and the inability to supply enough of the American currency to correct any anomalies.
Dollar to Naira Today at Black Market
At the black market, the Naira recorded another fall as it went down to sit at N572 per dollar, inching closer to its all-time low of N575 per dollar recorded back in September 2021 when the Central Bank of Nigeria stopped selling dollars to the bureau de change operators. The fall to N572 per dollar came after a steady performance at N656 per dollar.
Dollar to Naira Today at Official Market
The Naira saw a marginal rise in value, as it closed at N414.80 per dollar on Tuesday, according to the Investors and Exporters window where the Naira is traded officially.
The currency opened at N414.03 per dollar, but went down a few kobo after all the trading for the day had been completed.
On Wednesday, December 15 2021, the Naira saw a very slight increase in its opening price as it opened at N413.87 per dollar, a slight improvement from the N414.03 at which it opened on Tuesday.
The FMDQ again published the Spot and Forward rates for Monday’s trading rounds on its website, as it usually does. Tuesday’s rates saw all transactions involving the Naira and Dollar trade between a high of N405 per dollar, which represents a N1 fall from the previous day’s rate and a low of N444 per dollar, which is the same as the previous day.
For the Forward rate, the currency traded at one price only, with all transactions not trading above or below N453.15 per dollar.
Tuesday’s turnover sat at $377.88 million, higher than the $121m recorded on Monday.
Bitcoin to Naira Exchange Rate Today
Bitcoin, the world’s leading cryptocurrency, is currently trading at N19,947,364 per coin. Ethereum (ETH), which is the cryptocurrency with the second largest market cap at N186.37 trillion, is now trading at N1,593,340 per coin.
