News update on Dollar to Naira rate at the official and black market exchange rate Today November 4th 2021. 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?
As of today, Thursday, November 4, FMDQ Security Exchange disclosed that $1 to naira =414.49 at the official market after it closed at ₦414.80 to a $1 on Wednesday, 3 November 2021.
Exchange Rate In Black Market Today
The exchange rate at Lagos Parallel Market (Black Market) for today, Thursday, November 4th sells at N570/1$, according to sources at Bureau De Change (BDC).
NB: The Central Bank of Nigeria (CBN) does not recognise the parallel market (black market).
READ ALSO: Dollar To Naira Exchange Rate Today 3rd November 2021
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦414.49/$1 on 4 November, 2021 after closing at ₦414.80/$1. Showing a change 0.18.
According to data from FMDQ as at Thursday morning November 4th 2021, forex turnover stands at $133.37 million.
Meanwhile, in a move to encourage Nigerians to further embrace the recently launched eNaira, the Central Bank of Nigeria (CBN) has advanced reasons why it is better than cryptocurrencies.
It will be recalled that the e-Naira, Nigerian digital currency, was officially launched at the State House in Abuja by President Muhammadu Buhari on 25th October, 2021.
The CBN Director of Corporate Communications, Nnamdi Okwuosa submitted that the eNaira operates in a regulated environment, suggesting that cryptos are not regulated.
He also added that the eNaira is a legal tender backed by a sovereign nation and the CBN will always be there to guide users against falling into danger.
Okwuosa made the submission during a fair organized by the apex bank held in Abia and Ebonyi States to create further awareness for the eNaira.
Speaking at the fair with the theme ‘Promoting financial stability and economic development,’ the CBN spokesperson argued that the eNaira is not a threat, and Nigerians should listen to and follow the guidance of the apex bank.
 rates, and CBN rates.){kind=link}