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, 7th 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, Wednesday, September 7th, 2022, for 1 dollar to naira = ₦431.88/$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 ₦431.88/$1 on Wednesday 7th September and closed at ₦436.50 to $1.
US Dollar to Naira Black Market Rate Today, 7th 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.
Customers Pay N92.2bn For PoS Transactions In Seven Months – Report
The Nigeria Inter-Bank Settlement System (NIBSS) says bank customers have spent N92.2bn to use Point of Sale (PoS) terminals in the first seven months of 2022.
Data from the system revealed that PoS transactions in the first seven months of the year totalled N4.61tn, adding that the total cost charged for PoS transactions within the period to about N92.2bn.
NIBSS disclosed that about 955,234 PoS terminals were deployed in the nation as of January 2022. It also revealed that PoS terminals were launched to promote a cashless economy in the nation and aid payment in rural areas.
Naija News understands that the growth of mobile money and PoS terminals are evidenced by ready availability as it has become the most accessible form of payment.
In a chat with The Punch, the National President, Association of Mobile Money Agents in Nigeria, Victor Olojo, confirmed charges raked in by the operators.
Olojo applauded the Pos terminal initiative spearheaded by the Central Bank, which he said has been beneficial to the agents.
This article was originally published on Naija News