What is the Dollar to Naira Exchange rate at, offical CBN rate, aboki fx and the black market. How much is the Dollar to Naira exchange rate today, 29th July 2022? You convert your dollar to Naira at these rates, or you convert your dollar to Naira at the most recent, official CBN rate, black market or parallel market rate.
How Much Is Dollar To Naira Exchange Rate Today Official Rate?
The official rate today, Friday, July 29th, 2022, for $1 dollar to naira = ₦428.10/$1.
According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦428.10/$1 on Friday 29th July, and closed at ₦429.00 to a $1.
US Dollar to Naira Black Market Rate Today, 27 July 2022
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Naija News reports that the US dollar to naira exchange rate changes hourly. The exchange rate fluctuates depending on the volume of dollars available and demand for it. This means the exchange rate you buy and sell the dollar could be different hours later (high or low).
Factors that could Influence Foreign Exchange Rates in Nigeria
Conditions of Trade
Bureau De Change operators have cited a lack of FX and a surge in demand for the recent uncontrolled uptrend recorded in the market. In the same vein, some bank users who have FX in their domiciliary account told Nairametrics that they have not been able to withdraw their funds from the bank due to tightened liquidity.
The National Association of Telecoms Subscribers has described the Federal Government’s decision to increase the total consumption tax on telecom services to 12.5 per cent as irresponsible and ill-timed.
The association noted that an increment of tax will impoverish Nigerians especially as telecom services are essential to everyone.
The Federal Government had on Thursday announced plans to implement a five per cent excise duty tax on telecoms services at a stakeholders’ forum on the implementation of excise duty on telecommunications services in Nigeria.
The Minister of Finance Budget and National Planning, Zainab Ahmed, stated this at the forum which was organised by the Nigerian Communications Commission.
Ahmed, who was represented by the Assistant Chief Officer of the Ministry, Mr Frank Oshanipin, said the five per cent excise duty was in the Finance Act, 2020 but had not been implemented.
This article was originally published on Naija News