Dollar To Naira Exchange Rate Today 7 January 2022


This is the news about Dollar to Naira rate at the official and black market exchange rate Today January 7, 2022.

Read Naija News 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, Friday January 7th 2022, for $1 dollar to naira = ₦(yet to be disclosed)/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦(yet to be disclosed)/$1 on Friday 7th, after it closed at ₦416.25 to a $1 on Thursday, 6th January 2022.

How much is exchange rate of Dollar to Naira in Black Market today?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N565 and sell at N567 on Friday, January 7th 2022, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognise 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 NAFEX window

The exchange rate between the naira and the US dollar opened at ₦417.25/$1 on 6th January 2022 and closed at ₦416.25/$1. Showing a change of 0.06%.

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According to data from FMDQ, forex turnover stands at $113.65 million.

Meanwhile, the Federal Government has disclosed its reason for introducing an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages.

Speaking during the public presentation of the 2022 budget on Wednesday in Abuja, Minister of Finance, Budget and National Planning, Zainab Ahmed, said the decision was in the interest of Nigerians.

The minister said the excise duty on soft drinks would discourage excessive consumption of sugary beverages which contributes to diabetes, obesity among others.

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Ahmed added that the new tax would help raise revenues for the health sector and other critical expenditures.

The minister disclosed that the new policy introduced is in the 2021 Finance Act signed into law by President Muhammadu Buhari on December 31, 2021.

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