This is the news about Dollar to Naira rate at the official and black market exchange rate Today November 18, 2021.
Read Naija News 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, Thursday November 18, for $1 dollar to naira = ₦(yet to be disclosed)/$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 ₦(yet to be disclosed)/$1 on Thursday 18, after it closed at ₦415.10 to a $1 on Wednesday, 17 November 2021.
How much is exchange rate of Dollar to Naira in Black Market today?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) for today, Thursday, November 18th sells at N540/1$, 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.
Trading at the official NAFEX window
The exchange rate between the naira and the US dollar opened at ₦413.74/$1 on 17th November 2021 and closed at ₦415.10/$1.
According to data from FMDQ, forex turnover stands at $62.53 million.
Meanwhile, the federal government has released and cash-back over N1.95 trillion to departments and agencies (MDAs) in its 2020 budget implementation.
Naija News reports that this was contained in the 2020 Fiscal Responsibility Commission’s (FRC) yearly report and audited account.
According to the report, the government budgeted N2.7 trillion for capital expenditure in 2020 while actual total capital expenditure for the year was N1.6 trillion, N436.25 billion or 37.48 per cent higher than that of 2019.
According to the report, the government has paid attention to reforms of key sectors of the economy and for the provision of critical infrastructure such as roads, power, housing, rail and airports as well as the provision of physical and food security. It revealed that a total of N1.96 trillion (excluding capital expenditure for statutory transfer and capital expenditure of the top ten GOEs and projected loans was allocated to capital spending in last year’s budget.
The Commission said: “The national lockdown that was imposed to contain the spread of COVID-19 significantly affected the implementation of capital projects/programmes in the 2020 budget. However, a total sum of N1, 949.94 billion was released and cash-backed to MDAs for the implementation of the 2020 capital projects/programmes.’’
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