Dollar to Naira Black Market Rate Today
Get the latest and updated Dollar to Naira Exchange Rate here. Updated Daily, we provide the most recent rates at which the dollar to naira trades on the black market, parallel market, bank, CBN, and fintech apps. Make informed decisions by checking the dollar to naira exchange rates today here.
Dollar to Naira Black Market Rate
As at Today, 05/12/2023. The Dollar to Naira Black Market Rate is N1,140. With the Buying Rate at N1,135 and the Selling Rate at N1,140.
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| Dollar to Naira Black Market Rate Today | |
|---|---|
| Buying Rate | 1135 |
| Selling Rate | 1140 |
Source: Infoguidenigeria.com
Dollar to Naira in the black market is always higher than the official CBN and Banks rate. Dollar to Naira Black Market Rates are decided by local BDC traders that are found in almost all the states all over Nigeria. The black market rate is also referred to as the Parallel Market Rate or the Aboki Dollar Rate.
$5 to Naira Black Market Rate
With the dollar to naira exchange rate at N1,135. If you have $5 for sale in the black market, you get N5,675.
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$10 to Naira Black Market Rate
With the dollar to naira exchange rate at N1,135. If you have $10 for sale in the black market, you get N11,350.
$20 to Naira Black Market Rate
With the dollar to naira exchange rate at N1,135. If you have $20 for sale in the black market, you get N22,700.
$50 to Naira Black Market Rate
With the dollar to naira exchange rate at N1,135. If you have $50 for sale in the black market, you get N56,750.
$100 to Naira Black Market Rate
With the dollar to naira exchange rate at N1,135. If you have $100 for sale in the black market, you get N113,500.
Please keep in mind that because prices fluctuate, the rates at which you buy or sell FX may differ from those shown in this article.
Note: It is important to emphasize that the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, sometimes known as the black market. The CBN has instructed persons who are interested in engaging in foreign exchange to contact their local institutions. The CBN rate and the parallel exchange rate, also known as the black market rate, are different at all times.
Also, check out Exchange Rates: All You Need to Know.
CBN Dollar to Naira Rate Today
Last Updated on the 4th of December, 2023. The Central Bank of Nigeria’s Dollar to Naira Central rate is N816.455. With the Buying rate at $1 to N815.955 and the selling rate at $1 to N816.955.
The CBN’s rate for Dollar to Naira, Pound Sterling to Naira, Euro to Naira, Swiss Franc to Naira, Yen to Naira, CFA to Naira, WAUA to Naira, RIYAL to Naira, Danish Krona to Naira, and SDR to Naira are updated in the table below:
| Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
|---|---|---|---|---|
| 12/4/2023 | US DOLLAR | 815.955 | 816.455 | 816.955 |
| 12/4/2023 | POUNDS STERLING | 1030.3064 | 1030.9377 | 1031.5691 |
| 12/4/2023 | EURO | 883.8425 | 884.3841 | 884.9257 |
| 12/4/2023 | SWISS FRANC | 934.3353 | 934.9078 | 935.4804 |
| 12/4/2023 | YEN | 5.5522 | 5.5556 | 5.559 |
| 12/4/2023 | CFA | 1.5594 | 1.5694 | 1.5794 |
| 12/4/2023 | WAUA | 1267.6093 | 1268.386 | 1269.1628 |
| 12/4/2023 | RIYAL | 217.5068 | 217.6401 | 217.7734 |
| 12/4/2023 | DANISH KRONA | 118.5292 | 118.6018 | 118.6745 |
| 12/4/2023 | SDR | 1087.0968 | 1087.763 | 1088.4291 |
$5 to Naira CBN Rate
With the dollar to naira exchange rate at N819.683. If you have $5 for sale with the CBN Rate, you get N4,079.775.
$10 to Naira CBN Rate
With the dollar to naira exchange rate at N819.683. If you have $10 for sale with the CBN Rate, you get N8,159.55.
$20 to Naira CBN Rate
With the dollar to naira exchange rate at N819.683. If you have $20 for sale with the CBN Rate, you get N16,319.10.
$50 to Naira CBN Rate
With the dollar to naira exchange rate at N819.683. If you have $50 for sale with the CBN Rate, you get N40,797.75.
$100 to Naira CBN Rate
With the dollar to naira exchange rate at N819.683. If you have $100 for sale with the CBN Rate, you get N81,595.5.
Dollar to Naira Bank Rate
When you use your Naira MasterCard or Debit card from a Nigerian bank to buy goods from a foreign website, you are using the dollar to naira bank rate. These rates are nearly always lower than those accessible on the black/parallel market.
Dollar to Naira Rate on Fintech Apps
Some Fintech Apps like Geegpay and Chipper Cash provide you with a virtual card and dollar to naira conversion.
Dollar to Naira Rate on Fintech Apps is provided in the table below:
| Geegpay | Chipper Cash |
|---|---|
| N1,160 | N1,183.3546 |
Factors Affecting the Dollar to Naira Exchange Rate
Understanding the complex elements impacting the Dollar Naira exchange rate is critical for gaining a full perspective:
- Economic Indicators: Inflation rates, interest rates, and the overall economic condition of the United States and Nigeria all play crucial roles. Changes in these indicators can have an immediate impact on the exchange rate.
- Government Policies: The Nigerian and US governments’ monetary and fiscal policies can have an impact on the exchange rate. Interest rate policies, trade policies, and currency interventions can all produce fluctuations.
- Global Events: Geopolitical events, such as international conflicts or economic crises, can cause uncertainty and undermine investor confidence, resulting in exchange rate changes.
- Oil Prices: As a significant oil exporter, Nigeria is very subject to fluctuations in global oil prices. Changes in oil prices can have an impact on the country’s foreign exchange reserves and, as a result, the value of the Naira.
Before you go, check out The Nigerian Stock Exchange.
