This is the news about Dollar to Naira rate at the official and black market exchange rate Today November 15, 2021.
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, Monday November 15, for $1 dollar to naira = ₦(yet to be disclosed)/$1.
According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦(yet to be disclosed)/$1 on Monday 15, after it closed at ₦415.10 to a $1 on Friday, 12 November 2021.
How much is exchange rate of Dollar to Naira in Black Market today?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Monday, November 15th sells at N540/1$, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognise 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 ₦414.39/$1 on 12th November 2021 and closed at ₦415.10/$1. Showing a change of 0.09%.
According to data from FMDQ, forex turnover stands at $90.70 million.
Meanwhile, the Central Bank of Nigeria (CBN) has announced the introduction of a policy on production and productivity (PPP) to be known as 100 for 100 PPP.
The apex bank intends to provide funds for interested and qualified private companies who will be able to get as much as ₦5 billion under the scheme.
Though companies that can prove they have the capacity to effectively utilize above ₦5 billion would also be considered and funding made available to them but only based on the special approval of CBN’s Management.
The broad objective of the initiative is to reverse the nation’s over-reliance on imports, by creating an ecosystem that targets and supports projects with the potential to transform and catalyze the productive base of the economy.
According to information about the scheme, interest rate under the PPP intervention shall not be more than 5.0% p.a. (all-inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st March 2022.