What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 17th August 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market, or parallel market rate.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Wednesday, August 17th, 2022, for 1 dollar to naira = ₦427.58/$1.
According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦427.58/$1 on Wednesday 17th August and closed at ₦429.38 to $1.
US Dollar to Naira Black Market Rate Today, 17th August 2022.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 670 |
| Selling Rate | 700 |
Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and the demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).
Factors that could Influence Foreign Exchange Rates in Nigeria
- Conditions of Trade
- Speculators
- Government Debt
- Interest Rates
- Inflation Rates
Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.
Nigerian Ports Authority has been queried by the office of the Auditor General for the Federation, over the inability of 18 port terminal operators to pay the Federal Government a total of $753 million and N1.61 billion.
Naija News reports that the operators include, the Lagos Port Complex, Tin Can Island Port, Delta Port, Rivers Port Complex, Onne Port Complex and Calabar Port Complex.
A query issued by the AGF office and included in its report being reviewed by the Committees on Public Accounts in the National Assembly, said the amounts were part of the debts owed since 31 December 2019.
The query further stated that the agreements signed between NPA and various Terminal Operators state that a fixed annual payment of sum is meant to be paid in (12) equal instalments in each operating year.
The first instalment to be paid on the first day of the month after the effective date and then, on the same date of every month thereafter.
However, the NPA management in its statement to the House of Representatives Committee on Public Accounts, claimed that the operators’ initial debt to the government was $852.093 million and N1.878 billion.
