THE EXCHANGE RATE OF THE DOLLAR TOg NAIRA FOR TODAY, MARCH 25, 2022
Correspondents Got The Official Dollar Against The Nigerian Naira Exchange Rate Today, Including The Bureau De Change (Bdc) Rate And Cbn Rates.
The exchange rate between the naira and the US dollar according to data released on FMDQ Security Exchange, the official forex trading portal, showed that the naira opened at 415.98 yen to the dollar on Wednesday, March 24, 2022, and closed at 417.00 yen per $1. On Wednesday, March 24, 2022.
Although the dollar opened in the parallel market for 590 yen per $1 today, the Central Bank of Nigeria does not recognize the parallel market, also known as the black market. Therefore, the major bank directed anyone who needed forex to connect with their bank, insisting that the I&E window was the only known exchange.
‘The only exchange rate remains the I&E window, which is the market we expect everyone to have access to, to buy or sell forex,’ said CBN Governor Godwin Emefiele. ‘I am sorry to say that I do not, nor do I intend to learn about any foreign currencies in the market. ‘Go to your bank. Even if your limit is higher than what the bank sells, subtract it and we’ll look into it. ‘If you want to sell dollars, go to your bank and sell them,’ he said during a press briefing on September 17, 2021.
Checks by analysts reveal the uncertainty in the market as prices move up and down in a directionless fashion, making them unreliable.Disclaimer: reporters does not set or specify foreign exchange rates. Official NAFEX pricing is obtained from the FMDQOTC website. Parallel market prices are obtained from various sources, including online media. The prices you buy or sell in forex may differ from what is stated in this article.