This is the news about Dollar to Naira rate at the official and black market exchange rate Today January 12, 2022.
Read Ngnews247 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, Wednesday January 12th 2022, for $1 dollar to naira = ₦413.60/$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 ₦413.60/$1 on Wednesday 12th, after it closed at ₦413.94 to a $1 on Tuesday, 11th January 2022.
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) players buy a dollar for N565 and sell at N567 on Wednesday, January 12th 2022, 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.
Meanwhile, British multinational banking and financial services company, Standard Chartered Plc is reported planning to shut down half of its branches in Nigeria.
According to Bloomberg, the bank has closed 12 of its offices last year December and will eventually operate only 13 branches in the country due to alleged pressure from mobile money providers.
A source who spoke with the newspaper said the British bank has started strengthening its mobile banking unit and planning to start digital lending to process small loans quicker and increase the volume of retail credit.
The source added that the lender is planning to recruit agents to reach new customers and handle cash deposits and withdrawals across Africa’s biggest economy.
He added that the restructuring of the bank follows the move by Access Bank Plc and First Bank of Nigeria to build networks of authorized agents, or people within communities to sell their products and services.