The official and black market dollar to naira exchange rate today Monday November 15th according to FMDQ security where forex is traded is $1 dollar to naira =N413.74/$1 after it closed at N415.10/$1 showing a drop to -0.16%.
According to Burea De change, the black market exchange rate for $1 dollar to Naira today sells at N540/$1 at the Lagos parallel market.
Central bank has directed individuals who want to exchange in forex to approach their respective banks as it does not recognise the parallel market.
However, central bank of Nigeria (CBN) has announced the introduction of a policy on production and productivity (PPP) to be known as 100 for 100 PPP. They intend to provide funds for interested and qualified private companies who will be able to get as much as 5billion under the scheme and the interest rate under the PPP intervention shall not be more than 5.0% p.a. (all inclusive) up to 28th February 2022, thereafter, interest on the facility shall revert to 9% p.a. (all-inclusive) effective from 1st march 2022.