This is the dollar to naira official & black market exchange rate for Thursday 16 December 2021.
Everyday on this blog, we update the latest and up-to-date dollar to Naira exchange rate both in the CBN as well as the black market.
Dollar to Naira official exchange rate for today Thursday 16 December 2021.
The dollar to naira official rate for today, Thursday November 16th, is $1 dollar = ₦414.49.
As indicated by the information at the FMDQ Security Exchange where forex is exchanged officially, exchange rate between the naira and the US dollar opened at ₦414.49/$1 on Thursday 15 December 2021, after it closed at ₦414.80 to a $1 on Wednesday, 14th December 2021
Dollar to Naira black market exchange rate for today Thursday 16 December 2021.
According to a report by sources at Bureau De Change (BDC), the exchange rate for a dollar to naira at the Nigerian black market for today, Thursday, December 16th sells at N570/1$.
How to Buy Dollars Directly from CBN.
Some people have been wondering how to buy dollars directly from the Central Bank of Nigeria; that is why I am briefly going to show you now.
As an individual, it is difficult to simply stroll into the Central Bank of Nigeria and purchase the United States dollars.
This isn’t allowed by the CBN’s current policy.
It is only commrcial banks and Bureau de Change administrators that are permitted to purchase dollars and other foreign currencies from the CBN.
The CBN is just an apex bank that regulates the activities of all the other Nigerian commercial banks.
And as such, they do not serve individuals; this therefore implies that it is also not possible for an individual to own a bank account with the CBN.
However you can buy dollars from any of the commercial banks in Nigeria.
But you must note that the commercial banks will only sell dollars to individuals for the following purposes:
- Payment of foreign medical bill,
- Paying for school fees in the overseas,
- Business travel allowance,
- Personal travel allowance.