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Dollar To Naira Exchange Rate Today Friday, 18 February 2022

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Dollar To Naira Black Market Today 18th November 2022

Dollar to naira exchange rate today Friday 18th February 2022 can be accessed below.

This is the news about the Dollar to Naira rate at the official and black market exchange rate.

Read Infoexpert24 update on the official dollar rates as well as Black Marketrates,Bureau De Change (BDC)rates, andCBN rates.

How Much IsDollar To Naira ExchangeRate Today Official Rate?

The official rate today, Friday, February 18th, 2022, for $1 dollar to naira = ₦416.00/$1.

According to the data at theFMDQSecurity Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at₦416.00/$1on Thursday 17th, after it closed at₦416.50to a $1 on Wednesday, 16th January 2022.

Infoexpert24 reports that the dollar to nairaexchange rate has maintained an average ofN416.69to a dollar since the beginning of the new year.

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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 LagosParallel Market (Black Market) players buy a dollar for N570 and sell at N575 on Thursday, February 17th, 2022, according to sources atBureau De Change (BDC).

Please note that theCentral Bank of Nigeria (CBN)does not recognize the parallel market (black market), as it has directed individuals who want to engage inForexto approach their respective banks.

Dollar To Naira Exchange Rate Today Friday, 18 February 2022

Dollar To Naira Exchange Rate Today Friday, 18 February 2022

Trading at the officialNAFEX window

The exchange rate between the naira and the US dollar opened at₦416.00/$1on 17th February 2022 and closed at₦416.67/$1.Showing a change of0.04%.

According to data fromFMDQ, forex daily turnover stands at$127.02 million.

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

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

Private Sector Loan Borrowing From Commercial Banks Hit N36.7trn — CBN

TheCentral Bank of Nigeria, CBN, has revealed that private sectors in the country borrowed not less than N5.1 trillion from commercial banks in the year 2021.

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The apex bank in its Money and Credit statistics published on its official website noted that total credit to the private sector now stands at N36.7 trillion.

On a year-on-year basis, credit to the private sector rose by N5.6 trillion, from N30.1tn recorded in December 2020 to N35.7 trillion in December 2021.

According to CBN data, total loans to the private sector grew from N30.6tn in the first month of 2021 to end the year N35.7tn by December representing a 16.67 percent increase.

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Except for February, the CBN’s drive to ensure commercial banks offer more loans to companies was evident throughout the year.

From January N30.6 trillion private sector loans it increased to N30.5 trillion indicating a drop of N100 billion.

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