Dollar To Naira Exchange Rate Today 8th March 2022

News Rain Nigeria brings you update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Monday, March 7, 2022, for $1 dollar to naira = ₦415.84/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.84/$1 on Monday 7th, after it closed at ₦416.67 to a $1 on Friday, 4th March 2022.

News Rain Nigeria reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.

How much is a dollar to naira today in the black market?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N572 and sell at N577 on Monday, March 7th 2022, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Trading at the official 

The exchange rate between the naira and the US dollar opened at ₦415.84/$1 on 7th March and closed at ₦416.34/$1.

Black Market Dollar To Naira today, March 8 = ₦580 per $1

Even though the dollar to naira opened in the parallel market at ₦580 per $1 today, The Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market.