Black Market Dollar To Naira Exchange Rate Today 22nd February 2022

Black Market Dollar To Naira Exchange Rate Today 22nd February 2022

The black market dollar to naira conversion rate for today, February 22nd 2022, is available below.

IMPORTANT NOTE: The exchange rate fluctuates hourly, depending on the amount of dollars available and the Demands. What this means is that at N576, you purchase or sell a dollar, and the price can fluctuate (high or low) within hours.

February 22nd dollar to naira official market exchange rate: $1 dollar to naira =₦415.90can

Read More: Latest Dollar To Naira Exchange Rate Today 22nd February 2022

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

According to data provided on the FMDQ Security Exchange, where forex is officially exchanged, the naira began at 415.90 per dollar on Tuesday, 22nd February, 2022, after closing at 416.67 for $1 on Monday, February 21st, 2022. This represents a 0.02 percent change.

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

For the Lagos market, the parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: (black market).

LAGOS PARALLEL MARKET RATES February 22nd, 2022 (BLACK MARKET): dollar to naira exchange rate today black market

February 22 dollar to naira black market exchange rate: $1 dollar to naira = ₦576

Read More: New Exchange Rate Emerges As Naira Falls Massively At Black Market

Lagos parallel market (black market dollar exchange rate today)

The parallel market, often known as the black market, in Lagos, Nigeria, began at N576.00 per $1 today Tuesday, 22nd February 2022, after closing at N575.00 per $1 on Monday, 21st February 2022.

Despite the fact that the dollar to naira exchange rate opened in the parallel market at 575 for $1 today, the Central Bank of Nigeria (CBN) does not recognize the parallel market, also known as the black market. As a result, anyone in need of currency should contact their bank, with the I&E window being the sole known exchange, according to the apex bank.

players buy a dollar for N571 on the black market and sell for N576 on Tuesday morning, February 22nd, 2022, after buying N570 and selling for N575 on Monday, February 21st, 2022.

while, the USD began trading this week at 575 in Lagos Nigeria’s Parallel Market, popularly known as the Black Market, on Monay, February 14, 2022, the same amount it began trading at 571 last week on Monday, February 7, 2022.

TOUCHAHEART NIGERIA does not set or determine foreign exchange rates. The official NAFEX rates can be seen on the FMDQOTC’s website. Various sources, including internet media outlets, are used to get parallel market (black market) pricing. The rates you buy or sell forex may be different from what is captured in this article.

 

Meanwhile, a total of $141.31 million in foreign exchange value was moved on Monday, more than double the $64.03 million transferred the day before.

On the other side, Naira fell marginally by 0.17 percent on Monday, February 21, 2022, to settle at $576/$1 compared to N575/$1 on Friday, February 18, 2022. According to information gathered from BDC operators, this dollar to naira exchange rate is a huge drop from the N565/$1 it traded for weeks.

Also, the dollar to naira exchange rate on the Peer-to-Peer (P2P) forex market declined by 0.18 percent on Tuesday morning, trading at a low of N582.05 to a dollar, down from N581/$1 on Monday, February 21, 2022.

Trading At The Official NAFEX Window

On Monday, February 21st, 2022, the dollar to the naira exchange rate at the Investors and Exporters window closed at N416.67/$1, up 0.02 percent from the previous trading session’s N416.75/$1.

It is worth noting that this is the first upward movement for the local currency in the past four trading sessions at the official FX market.
The opening indicative rate closed at N415.9/$11 on Monday. This represents a 5 kobo depreciation compared to the N415.85/$1 recorded on Friday, 18th February 2022.

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An exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N416.67/$1, while it sold for as low as N410/$1 during intra-day trading,
Meanwhile, forex turnover at the official window surged by 120.69% to $141.31 million on Monday, 21st February 2022.
According to data tracked by Nairametrics from FMDQ, forex turnover at the I&E window increased to $141.31 million on Monday from $64.03 million recorded on Friday18th February 2022.

Crypto Market

Following a 1.36 percent drop in the previous trading session, the crypto market started trading on Tuesday on the downside, with the industry market capitalization falling 1.42 percent to $1.626 trillion in the early hours of Tuesday, February 22nd, 2022.

In a similar vein, bitcoin fell 1.19 percent to $36,610 at 6:14 a.m. on Tuesday. In the previous trading session, the flagship crypto-asset had lost 1.87 percent of its value. In the meantime, despite a slight increase in the price of Ethereum on Monday, it began the day on Tuesday with a 2.25 percent drop, trading at $2,511.41.

Meanwhile, as of press time, Solana’s price had dropped 1.56 percent to $81.6975, Terra’s price had down 1.95 percent to $49.1482538, and Uniswap’s price had dropped 2.23 percent to $8.34.