Capital import increases by 98% in the third quarter of 2021
Here are the daily exchange rates of the dollar against the naira on the official and black markets today, January 24, 2022.
Read and follow king of investors daily update on the official dollar exchange rate as well as Black market rates, Bureau de change (BDC) rates and CBN rate.
What is the exchange rate of the dollar against the naira today, January 24, 2022, in the official market?
The official exchange rate of 1 dollar to naira = ₦415.64 / $1, according to official exchange rates from the Central Bank of Nigeria.
However, FMDQ Group forex data puts the dollar to naira exchange rate at ₦416 to $1 on Friday, January 21, 2022. The Forex Investors & Exporters platform has not been updated for today.
What is the black market exchange rate for the dollar to naira today?
The dollar to naira exchange rate on the unregulated foreign exchange market popularly known as the black market is N560 for buyers and is selling at N565 today, Monday January 24, 2022, according to sources quoted by Bureau de change (BDC).
The Central Bank of Nigeria has warned against frequenting the black market and ordered all Nigerians to go to their banks for their foreign currency needs.
How much is Bitcoin to Naira today?
The bitcoin to naira exchange rate fell 0.25% in the past 24 hours to 14.630 million naira while Ethereum [ETH] to Naira stood at 979,245 Naira, a decrease of 3.40%.
The whole cryptocurrency plunged in December 2021 after the US Federal Reserve announced its intention to adjust its monetary policy to adapt to changing economic realities in the country. Experts predict that an increase in interest rates will impact the crypto space as capital inflows are expected to plummet.
Meanwhile, Finance Minister Ms. Zainab Ahmed said on Monday that the federal government had suspended plans to phase out fuel subsidies in 2022 given the country’s rate of inflation.
Speaking in the National Assembly, she said “We found out that, practically, there is always increased inflation and removing subsidies would further aggravate the situation and impose more hardship on citizens,” Ahmed told the meeting.
“Sir. The President does not want to do this. What we are doing now is to continue the ongoing discussions and consultations with a view to putting in place a number of measures.
“One of them includes the deployment of refining capacities of existing refineries and new ones that would reduce the amount of product that would be imported into the country.”