Dollar To Naira Exchange Rate Today, 31 May 2022

Monday, 30th May: This is the news about the Dollar to Naira rate at the official and black market exchange rate.

Read Naija News update on the official dollar rate in nigeria 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, May 30th, 2022, for $1 dollar to naira = ₦418.38/$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 ₦418.38/$1 on Monday 30th, after it closed at ₦419.50 to a $1 on Friday, 27th May 2022.

Naija News 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 N580 and sell at N610 on Monday, May 30th 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.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today

Buying Rate
580

Selling Rate
610

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦418.38/$1 on 30th May, 2022 and closed at ₦420.25/$1. Showing a change of 0.18% and a daily turnover of $122.91 million.

According to data from FMDQ, forward rate went as high as ₦453.55 and as low as ₦419.98.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦410.00.

A spot exchange rate is the current price level in the market to directly exchange one currency for another, for delivery on the earliest possible value date.

Gas Marketers Clash Over Price Increase, Consumers Extortion

Gas marketers across the country have clashed over the increasing prices of gas across the country and the extortion of customers.

Naija News learned that the demand for cooking gas in the country dropped by 38 percent in the last one year due to high prices.

The clash between the marketers began when the President of Nigeria Liquefied Petroleum Gas Association (NLPGA), Nuhu Yakubu, claimed that the increasing gas price was due to the price of the US dollar.

Yakubu made the claim during a courtesy visit to former President, Olusegun Obasanjo last week.

This article was originally published on Nigeria News