The official rate today, Tuesday, May 31st, 2022, for $1 dollar to naira = ₦418.54/$1.
According to the data obtained from the FMDQ, where Naira is traded officially, the exchange rate between the naira and the US dollar opened at ₦418.54/$1 on Tuesday 31st, after it closed at ₦420.25 to a $1 on Monday, 30th May 2022.
The dollar to naira exchange rate has maintained an average of N416.69 to a dollar since the beginning of the new year.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N585 and sell at N605 on Tuesday, May 31st 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.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 585 |
| Selling Rate | 605 |
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