Do you want to exchange some dollars to Naira or you are looking for ways to convert some of your USD to naira to spend today being Thursday.
What is the dollar to naira rate today with the Black market rate at Bureau de Change in Nigeria? Searching for how to invest in dollars with your naira rate can be time-consuming if you don’t know how to do that online.
While the black market rate is thriving in Nigeria is that CBN are not forcing Nigerians and bank to exchange the dollars and the official naira to dollar rate and the black market rate have a massive difference. The rate between the black market and the official can sometimes be as high as 80 nairas more.
The above is the reason most Nigerians preferred to exchange their dollars for naira at the Bureau de change rate also known as the black market.
if you want to find out the naira to dollar today rate you just have to visit this page as we continue to update it daily for your current rate in Nigeria.
What is the current dollar to naira exchange rate in the parallel market? Well, it may interest you to know that Dollar to Naira rate in the black market sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).
The price listed above is the current USD to Naira exchange rate. We will always update the latest rate on a daily basis to keep you informed. Dollar to Naira Exchange Rate is the current exchange equivalent of the United States Dollar. Rate varies for various banks and parallel markets.
How Much is Dollar to Naira Official Exchange Rate Today
Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at 573 Naira Per Dollar at the black market. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.
As Naira is falling, inflation takes over the economy which usually affects the citizens. Central Bank Governor, Godwin Emefiele has said that the Nigerian Economy needs a massive turnaround and has urged Nigerians to work towards it.
The black market commonly referred to as Aboki market rate for dollars is usually higher than the exchange rate at the banks which is usually regulated by the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate you can buy or sell dollars for naira listed on CBN dollar to naira website cbn.gov.ng.
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We have made available table showing the exchange rate between the dollar and naira at the current market. The table shows naira to dollar equivalent for 1, 10, 100, 500 and 1000 markets.
Dollar to Naira bank rate is used when you are using your ATM to buy items, products or services on a foreign website. This is what is known as the bank rate. The bank rate is a little higher than the CBN rate as banks source their USD from the Central Bank of Nigeria.
The CBN rate is controlled by market forces to keep the naira rate with USD stable, the CBN buys and sells dollar anytime the corporation deems it fit that naira needs to be controlled to maintain a certain exchange rate.
What is your concern about the prevailing exchange rate today according to the Nigerian economy? Do you think the current rate to the dollar can be maintained especially now that the oil prices rises?
How much is a dollar to naira
The amount of naira to dollar today is referred to as the rate of how many dollars can be gotten for naira. which have been talked about in the table.
1 dollar to naira
1 dollar to naira is equal to 470 at CBN rate, the same 1 dollar equal to 492 at bank rate, same dollar equal to 570 at 1 dollar to dollar black market rate