July 2, 2022
  • July 2, 2022

Dollar to Naira today December 23, 2021

By on December 23, 2021 0

Christmas is just a few days away, and that naturally means people will start flocking to the markets to purchase items (both edible and inedible) for the festivities. The dollar to naira exchange rate as of December 20, 2021 has undoubtedly affected the prices of goods and services, especially imported goods. Therefore, high prices can impact Christmas celebrations across the country.

Dollar to Naira on the Black Market

In the parallel market, also known as the black market, the dollar to naira exchange rate is between N 568 per dollar and N 570 per dollar on Monday, December 20, 2021. However, it should be remembered that the Central Bank of Nigeria does not count with the parallel market as the official source of exchange rates.

Dollar to naira exchange rate on the official market

According to the Investor and Exporter window where the Naira is officially traded, the currency held its range to close at N 415.07 per dollar on Friday. It was very close to the rate of N 415.05 per dollar it closed on Thursday, which is why it would be in the same range.

On Monday, December 20, 2021, the Naira opened at N 413.84 per dollar at the Investors and Exporters counter. It’s basically the same with the N413.83 per dollar it had when it opened on Thursday.

The updates of the Spot and Forward rates by the FMDQ group saw a stability of the Spot rate but an evolution of the Forward rate, as has been the trend for several days.

The spot rate traded as high as N405 per dollar and a low of N444 per dollar. The forward rate, which changes more often than the spot rate, saw a significant drop as it fell to such an extent that its high was only N 446 per dollar from the N 414 per dollar seen on Thursday, while its lowest was at 460 N per dollar.

The daily turnover recorded by the FMDQ group amounts to 151.03 million dollars.

Bitcoin to Naira exchange rate

As of Monday, December 20, 2021, Bitcoin currently costs N19,047,794.80 per coin while Ethereum costs N 1,574,459.14 per coin.