Dollar To Naira Exchange Rate Today, 2 March 2022

Tuesday, 1 March 2022: This is the news about the Dollar to Naira rate at the official and black market exchange rate.

Read Naija News update on the official dollar rates as well as Black Market rates, Bureau De Change (BDC) rates, and CBN rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

The official rate today, Tuesday, March 1, 2022, for $1 dollar to naira = ₦415.58/$1.

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦415.58/$1 on Tuesday 1st, after it closed at ₦416.67 to a $1 on Monday, 28th January 2022.

Naija News reports that the dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.

How much is a dollar to naira today in the black market?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦571 and sell at ₦576 on Tuesday, February 1st 2022, according to sources at Bureau De Change (BDC).

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

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦415.58/$1 on 1st and closed at ₦416.67/$1. Showing a change of 0.00%.

According to data from FMDQ, forex daily turnover stands at $121.54 million.

Spot rate: The dollar sold to the naira as high as ₦444.00 and as low as ₦408.00

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

Zenith Bank’s Gross Earnings Hit ₦756bn, Profit Before Tax Rose To ₦280bn

One of Nigeria’s financial institutions, Zenith Bank Plc has released its audited financial results for the 2021 financial year.

In a statement on Monday, the bank said it released the audited financial results to the Nigeria Exchange Group (NEXG) for vetting and approval.

The bank disclosed that its gross earnings rose by 10 percent to ₦765.6bn as of the end of December 2021, compared to ₦696.5bn made in the corresponding period of 2020.

According to the bank, it recorded a big win as its profit before tax grew by 10 per cent from ₦255.9bn to ₦280.4bn in the current year.