What is the Dollar to Naira Exchange rate at the official CBN rate, aboki fx, and the black market? How much is the Dollar to Naira exchange rate today, 20th September 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, Tuesday, September 20th, 2022, for 1 dollar to naira = ₦435.07/$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 ₦435.07/$1 on Tuesday 20th September and closed at ₦436.25 to $1.
US Dollar to Naira Black Market Rate Today, 20th September 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 the 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
- Government Debt
- Interest Rates
- Inflation Rates
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 Debt Management Office (DMO) has said Domestic Debt has pushed the country’s Total Public Debt Stock from N41.60tn in March 2022 to N42.84tn in June of the same year.
In a press statement published on its website on Monday, the DMO said the figures showed an increase of N1.24tn in three months.
The office revealed that the total public debt stock represents the Domestic and External Debt Stocks of Nigeria, the 36 State Governments and the Federal Capital Territory (FCT).
The statement read in part, “The Total Public Debt Stock, representing the Domestic and External Debt Stocks of the Federal Government of Nigeria, the 36 State Governments and the Federal Capital Territory, was N42.84tn ($103.31bn) as of June 30, 2022. The comparative figures for March 30, 2022, was N41.60tn ($100.07bn).”
According to the DMO, the Federal Government was unable to secure any foreign loans in the second quarter of 2022, adding that external debt remained the same at N16.61tn ($40.06bn) from Q1 to Q2 2022.
DMO said 58 per cent of external debt was concessional and semi-concessional loans from multilateral lenders such as the World Bank, International Monetary Fund, Afrexim, African Development Bank and bilateral lenders, including Germany, China, Japan, India and France.