Dollar to Naira Black Market Exchange Rate Today: USD to Naira
Do you want to know the current USD to Naira exchange rate today? Here you will see the black market and CBN exchange rate for dollars to Naira. You can convert your USD to Naira at these rates or the parallel market or black-market rate.
Nigerians often exchange their foreign currencies—especially the US dollar—for naira using the black market because the official bank rate is set very low. Here is a page that offers current black-market rates for USD to Naira.
On this page, we have also included the Aboki fx dollar/naira exchange rate so that you can check each of the exchange rates for the currencies you wish to trade on the parallel markets. The most reliable source for the dollar/naira exchange rate on the black market is Aboki FX. Furthermore, you can find the current exchange rate here.
Dollar to Naira Black Market Rate Today
|Dollar to Naira (USD to NGN)||Black Market Exchange Rate Today|
Do you want to know how much $ to ₦ in the parallel market? It may interest you that the black-market exchange rate varies significantly from the rate on the Central Bank of Nigeria’s official website (www.cbn.gov.ng).
The exchange rate in the table above is the current price of one United States dollar (USD) in Nigerian naira (NGN). The exchange rate seems to vary following the demand and supply of USD to Naira in the parallel and black markets.
However, we update this article daily with the latest and current 1 dollar to naira black market exchange rate.
1 Dollar to Naira Black Market Exchange Rate Today
The parallel (black market) exchange rate is always different from the official Central Bank of Nigeria (CBN) rate. Currently, 1 dollar equals 770 Naira. The naira to U.S. dollar exchange rate has drastically affected the Nigerian economy.
With the depreciation of the naira, inflation is taking over the economy and affecting citizens. Godwin Emefiele, Governor of the Central Bank of Nigeria, said the Nigerian economy needs a major turnaround and called on Nigerians to work towards this.
How Much is a Dollar to Naira in Black Market Today?
Currently, 1 dollar equals 770 Naira in the black-market exchange rate. However, there is always a difference from the official Central Bank of Nigeria (CBN) rate.
The black-market dollar exchange rate, also known as the Aboki market rate, is usually higher than the official Central Bank of Nigeria (CBN) exchange rate. A CBN exchange rate is the rate at which dollars can be bought or sold for naira on the CBN’s website dedicated to the exchange of dollars for naira, cbn.gov.ng.
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The CBN dollar to naira bank rate is the rate you use when purchasing items from foreign websites using your Naira Mastercard or debit card from Nigerian banks. This rate is almost always lower than the rate available on the black market.
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