On this post you are going to learn about the Dollar to Naira official exchange rate for today Wednesday, 19 January, 2022.

Dollar to Naira official rate for today, Wednesday, 19 January 2022.

According to the data gathered at FMDQ Security Exchange where forex is traded officially. The official exchange rate between the naira and the US dollar for today Wednesday, 19 January 2022 opened at ₦426.25/$1, after it closed at ₦435.00 to $1 on Tuesday, 18 January 2022.

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Dollar to Naira black market exchange rate for today, Wednesday, 19 January 2022.

According to sources at Bureau De Change (BDC), The exchange rate for a dollar to naira at Lagos Black Market; also known as parallel market today Wednesday, 19 January 2022 is that you will buy a dollar for N570 and sell at N575.

Please be notified that the Central Bank of Nigeria (CBN) does not recognise the black market.

And as a result of that has directed individuals who want to engage in Forex not to do business with them but rather to approach their respective banks to buy or sell their dollars.

Exchange rate at the official NAFEX window

The exchange rate at the NAFEX window on Wednesday, 19 January opens at ₦426.25/$1 after closing at ₦435.00/$1 yesterday.

This shows a change of 1.33%.

Read also: How To Start An Online Business.

According to data gathered from FMDQ, forex turnover stands at $150.26 million.

In the meantime, the World Bank has said Nigeria may find it very difficult to recover from its economic problems; if the Nigerian Government is unable to solve the high inflation rate in the country.

The global financial institution further reveals tha;t the high inflation rate in Nigeria is crippling the purchasing power of the most vulnerable households.

The bank says that the high inflation rate in the country will lead to poverty; and the possible down turn of consumption, investment and saving decisions, among several other consequences.

In its November edition of its Nigeria Development Update, the bank said Nigeria’s inflation rate may be among the world’s highest and seventh highest among Sub-Saharan African countries in 2022.

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Last modified: January 18, 2022

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