Dollar To Naira Exchange Rate Today 29 October 2021

Dollar To Naira Exchange Rate Today 29 October 2021

iexclusive News Nigeria brings to you Dollar to Naira rate at the official and black market exchange rate Today October 29, 2021.

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

Friday October 29, official rate $1 dollar to naira = ₦414.49/$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 ₦414.49/$1 on Friday 29, after it closed at ₦415.10 to a $1 on Thursday, 28 October 2021.

How much is exchange rate of Dollar to Naira in Black Market today?

Dollar To Naira Exchange Rate Today 29 October 2021 (Black Market Rate)

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Friday, October 29th sells at N570/1$, according to sources at Bureau De Change (BDC).

Trading at the official NAFEX window

The exchange rate between the naira and the US dollar opened at ₦414.49/$1 on 29th October 2021 after closing at ₦415.10/$1. Showing a change of 0.09%.

According to data from FMDQ, forex turnover for Friday, 29 October 2021 moved up from $147.44million to $263.70million

What you need to know;

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, the Nigeria Deposit Insurance Corporation, NDIC, has explained that over ninety-seven per cent of depositors’ accounts are fully covered by insurance in a case of bank failure.

The corporation told depositors that, in the case of a bank closure, they would be able to reclaim their funds as a result of this move, and that they should not be scared to conduct business.

Bello Hassan, the NDIC’s managing director and CEO, said this in Gombe State at the 18th session of the workshop for business editors and the Finance Correspondents Association of Nigeria (FICAN).

Hassan stated during the ceremony that the total number of deposit money bank accounts in the country was 128.4 million as of 2019.