Today’s official dollar to naira exchange rate in Nigeria, including the Bureau De Change (BDC) and Central Bank of Nigeria (CBN) rates.
What Is Today’s Official Dollar to Naira Exchange Rate?
Due to the Muslim holiday in Nigeria, the exchange rate between the Naira and the US dollar opened at 414.46 per dollar on Monday, October 18th, 2021, and closed at 414.73 per dollar on Monday, October 18th, 2021, according to data released on the FMDQ Security Exchange, the official forex trading portal.
This indicated that no official rate was released by FMDQ today, Tuesday, 19 October 2021.
Exchange Rate of Dollar To Naira in The Parallel Market
Even though the dollar opened in the parallel market for ₦576 per $1 today, the CBN does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
The I&E window remains the single exchange rate, which is the market where we anticipate everyone who wants to buy or sell currency to get it,” stated CBN Governor Godwin Emefiele.
“I am sad to say that I do not recognize any FX in the market, and I do not intend to do so.”
Make a trip to your bank. Put your limit forward, even if it’s higher than what the bank is offering, and we’ll check into it. “Go to your bank and sell the dollar,” he urged during a press conference on September 17, 2021.