Dollar To Naira Exchange Rate For 16th May 2022

Monday, May 16th: This is the latest news on the Dollar to Naira exchange rate at the official and black market exchange rates.

Read Livenews 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 16th, 2022, for $1 dollar to naira = ₦417.30/$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 ₦417.30/$1 on Monday 16th, after it closed at ₦419.00 to a $1 on Friday, 13th May 2022.

Livenews 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.

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• Dollar To Naira Exchange Rate For 12th May 2022
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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 N585 and sell at N596 on Monday, May 16th, 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 585
Selling Rate 596