• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Monday, October 2, 2023
NewsOnline Nigeria
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station
No Result
View All Result
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station

BREAKING: Naira Falls Massively First Day of June 2022, See New Exchange Rate

by Justice Winner
June 1, 2022
in Economy And Business, Headline
Naira

naira

Naira has fallen massively on the first day of June 2022, See new exchange rate below.

 

 

NewsOnline reports that the Nigerian official currency, the naira crashed at the parallel market also known as the black market on Wednesday, June 1, 2022, trading at ₦605 per a dollar with Bureau De Change (BDC) operators buying at ₦600 per a dollar and selling at ₦605/$1 as at 3:15 pm in the Lagos market as monitored by Newsonline Nigeria reporters who visited the market on Wednesday afternoon.

 

BDC operators popularly known as Abokis in the parallel market (black market), bought a dollar at ₦600 per a dollar and sold at ₦605 per a dollar on Wednesday afternoon, 1st June 2022, at the official market, the exchange rate between the Naira and the US dollar according to the data from the official forex market, showed that the naira opened at ₦415.5347 on Wednesday afternoon after closing ₦415.161 the previous day, Tuesday, 31st May 2022.

 

Tuesday 31 May 2022 1 USD = 415.161 NGN
Monday 30 May 2022 1 USD = 415.0555 NGN
Sunday 29 May 2022 1 USD = 414.9532 NGN
Saturday 28 May 2022 1 USD = 415.2237 NGN
Friday 27 May 2022 1 USD = 415.2317 NGN
Thursday 26 May 2022 1 USD = 415.2281 NGN
Wednesday 25 May 2022 1 USD = 415.1011 NGN

 

How much is exchange rate of the Dollar to Naira in the Black Market today?: Lagos parallel market (black market dollar exchange rate today)

Newsonline Nigeria reports that on the black market, the players buy a dollar for ₦600.00 and sell for ₦605.00 on Wednesday afternoon, June 1, 2022, after they bought ₦584.00 and sold ₦589.00 on May 1, 2022. This means that the naira has lost ₦16.00 in the last 30 days compared to now.

 

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate 600
Selling Rate 605

 

Even though the dollar to naira opened in the parallel market at ₦605 per $1 today, Newsonline reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

 

“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it,” said the CBN Governor, Godwin Emefiele.

 

“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.

 

“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said during a press briefing on September 17, 2021.

 

Meanwhile, Newsonline Nigeria reports that the USD started this week at ₦605 in Parallel Market also known as Black Market on Monday, 30 May 2022, in Lagos Nigeria, after it opened at ₦605 last week Monday, 23 May 2022.

 

Checks by Newsonline Nigeria reveal uncertainty in the market as prices move up and down in a directionless manner, thereby making it unreliable.

 

Disclaimer: NEWSONLINE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

Previous Post

Court Sentences Two Yahoo Boys To Five Hours Community Service

Next Post

Nigeria Internet Subscription Hits 148 Million In April 2022

Justice Winner

Justice Winner

Justice Winner is a Veteran Nigerian Journalist With Expertise in Writing Nigeria News, Entertainment and Politics. He has a degree in Journalism/Mass Communication Studies. Justice is a dedicated and talented writer committed to producing high-quality content that is authoritative, informative, entertaining, and engaging. Connect with Him on Instagram , Facebook, Twitter, and LinkedIn.

Related Posts

Governor Abdullahi Sule
Headline

Nasarawa Tribunal sacks APC Governor Abdullahi Sule

Tinubu Government
Headline

BREAKING: NLC reaches five new resolutions with Tinubu Government

Peter Obi
Crime Watch

Peter Obi maintains fuel subsidy is an organised crime

Amos Josiah Dangut
Education

BREAKING: Amos Josiah Dangut Appointed as new WAEC head

Tinubu
Headline

UPDATED: Tinubu approves N35,000 provisional wage increase for FG workers

Justice Ariwoola
Headline

JUST IN: Justice Ariwoola to swear in 23 high court judges (FULL LIST)

Next Post
Nigeria Internet Subscription

Nigeria Internet Subscription Hits 148 Million In April 2022

Trending Posts

Additional Wage For Workers

BREAKING: FG Increases Additional Wage For Workers From N25,000 To N35,000

Minimum Wage

BREAKING: FG Increases Minimum Wage For All Federal Civil Servants

Ilebaye Biography

Ilebaye BBNaija Biography, Age, State of Origin, Net Worth, Instagram

Betta Edu

Betta Edu narrates story behind unpaid Npower Stipends, Nexit Package

Ilebaye

BREAKING: Ilebaye Defeats Former BBNaija Winner, Mercy To Claim N120m All Star Grand Prize

Tinubu Government

BREAKING: President Tinubu Government Removes VAT On Diesel

NLC

BREAKING: NLC Summons Emergency NEC Meeting, May Suspend Strike

FG Tech Startup Accelerator Fellowship

APPLY NOW: Applications opens for FG Tech Startup Accelerator Fellowship

NLC

BREAKING: Determined to avert nationwide shutdown, FG summons labour to emergency meeting

US Visa Lottery

US Visa Lottery Crucial Information for Diversity Visa (DV) 2025 Applicants

ADVERTISEMENT

ABOUT US

NewsOnline Nigeria is Nigeria’s fastest growing trusted independent online newspaper covering Africa’s socio-economic issues, trades and investments; it provides informed perspectives on economic and political events in Nigeria and Africa at large.

Relevant Pages

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

Reach Us

6th Avenue, Festac Town, Lagos

+234 816 184 6326

[email protected]

Alert Us

Important Press Releases, Breaking Stories, Special Investigations: [email protected]

Copyright © 2023 Newsonline Nigeria

No Result
View All Result
  • Latest Posts
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Education
  • Sports
  • Lifestyle
  • TV Station

Copyright © 2023 Newsonline Nigeria