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, 22nd 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, Thursday, September 22nd, 2022, for 1 dollar to naira = ₦435.08/$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 ₦435.08/$1 on Thursday 22nd September and closed at ₦436.50 to $1.
US Dollar to Naira Black Market Rate Today, 22nd 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.
Airlines To Lose Aircraft Over Struggle To Raise Forex
Domestic airlines are set to lose some of their aircraft over the struggle to raise enough foreign exchange to run checks and conduct comprehensive maintenance of their fleets overseas.
Naija News learned that aeroplanes flown abroad would be forced to remain in various maintenance facilities until the airlines can pay for their repairs and subsequent return to service in Nigeria.
According to The Punch, any aircraft that develops a fault beyond A and B checks, which can be done in Nigeria, will be parked.
Also, any aircraft that is due for a major check, such as the C-check, which is only carried out overseas at the moment, would be parked.
In a chat with reporters, the Group Managing Director, Finchglow Holdings, Bankole Bernard, said the depletion of aircraft would further deepen the crisis in the aviation industry as airlines are losing seats.
Bernard stated that the aircraft depletion has given rise to high demand, high airfares, flight delays and cancellations.
He stated that the situation was made worse by the high cost of aviation fuel, which had risen to over N800 per litre and might hit N1,000 per litre at any moment unless there was an urgent intervention.
This article was originally published on Naija News