Dollar to Naira Exchange Rate June 20, 2022

By Tolulope Oke

The Nigerian Naira remained flat against the US Dollar on the official Central Bank of Nigeria’s (CBN) forex trading segment on Monday, June 20.

The local currency traded for N415.82 to 1 US Dollar, as it was exchanged for the same value last week Friday.

At the official Investors and Exporters (I & E) Window, Naira was traded at N421 to 1 US dollar on Monday, compared to N420.50 it was exchanged for last week Friday. This indicated a decline of 0.2 percent.

The opening rate indicated N419.71 while the closing rate was N421.33, although it recorded a 0 percent change in value.

The parallel market on the other hand witnessed a decline in Naira, as the currencies were traded between N595 to N610 – this is as against Friday trade which was exchanged between N590 to N610.

The British Pound Sterling was traded for N510.12/$1, representing the same value it concluded the previous week with on the CBN forex segment. Likewise, Euro remained flat, trading at N436.15 to 1 US Dollar.

• READ ALSO: Naira Closes the Week Flat Across All Board

The digital currencies on the other hand witnessed a great recovery from the persistent daily crash in value!

Bitcoin which dropped below $20,000 last week, hitting a bottom barrel for the first time since November 2020 has recorded a 6.00 percent change in value – selling at $21,139.31 or N8,780,506.43 (using CBN exchange rate) for a coin.

Ethereum (ETH) likewise made improvements in value, recording a change of 6.52% over the past 24 hours. The price is currently sold at $1,145.23 or N475,598.65 (using CBN exchange rate) for a coin.

Binance (BNB), like its counterparts, recorded a change of 4.46% and sold at $221.36 or N 91,796.77 for a coin – this is against last week’s figure which dipped as low as $190.42 for a coin.