Dollar to Naira black market exchange rate today, since it is one global currency leading the world the Naira has been paired against the Dollar currency to enable citizens to understand the value of one against the other.
The Naira is fiat money and so does not rise with respect to pump or otherwise, the currency gains its value only when the economy of the nation is growing, for instance, when the export commodity rises by a greater rate, it aids the Naira to rise in value and give a better Dollar to Naira exchange rate.
You can also check out Dollar to eNaira Exchange Rate Today
Increased demand for local products and successful trade with international bodies boost the rise of the Naira to the Dollar thereby enabling it to appreciate in value. Also, the Dollar to Naira is usually compared because most of the products and services Nigerians buy abroad are exchanged in Dollars.
The Naira is a fiat currently for means of exchange in Nigeria, regulated by the Central Bank of Nigeria, and is printed only by the approved law and order of the Federal Republic of Nigeria.
Dollar to Naira Exchange Rate, USDT, and other open market digital currencies attain market value through capital invested into them by trade so that they can be quoted in public financial markets and logs.
This page is being updated every 10hrs to make a change on the Dollar to Naira Exchange rate balance.
What is the Exchange rate of Dollar to Naira in the Black Market?
Today, the Dollar to Naira Black Market Exchange Rate is $1 = N710 and that of the CBN Dollar to Naira Exchange rate is $1 = 416.14
Convert US Dollar to Naira Today Exchange Rate in Black Market
| USD | NGN |
| 1 USD | 710 NGN |
| 5 USD | 3,550 NGN |
| 10 USD | 7,100 NGN |
| 25 USD | 17,750 NGN |
| 50 USD | 35,500 NGN |
| 100 USD | 71,000NGN |
| 500 USD | 355,000 NGN |
| 1,000 USD | 710,000 NGN |
| 5,000 USD | 3,550,000 NGN |
| 10,000 USD | 7,100,000 NGN |
| 50,000 USD | 35,500,000 NGN |
Convert US Dollar to Nigerian Naira CBN Rate
| USD | NGN |
|---|---|
| 1 USD | 415.631 NGN |
| 5 USD | 2,078.15 NGN |
| 10 USD | 4,156.31 NGN |
| 25 USD | 10,390.8 NGN |
| 50 USD | 20,781.5 NGN |
| 100 USD | 41,563.1 NGN |
| 500 USD | 207,815 NGN |
| 1,000 USD | 415,631 NGN |
| 5,000 USD | 2,078,150 NGN |
| 10,000 USD | 4,156,310 NGN |
| 50,000 USD | 20,781,500 NGN |
CBN Dollar Exchange Rate in Picture
Dollar to Naira Exchange Rate – Procedure to Change your dollar to Naira in Nigeria
You can change your Dollar to Naira in the parallel market by visiting the nearest Bureau De Change office close to you. Please note that the Central Bank of Nigeria frowns at this and hence is putting a close eye on people exchanging Dollars for Naira, especially those using it for political campaigns.
Also, any Dollar you are exchanging for Naira must be genuinely made because if found illegal you will have every course to face the law, this was a statement from the governor of the Central Bank of Nigeria.
The parallel exchange rate is also known as the black market exchange rate and is always different from the CBN rate. Currently, Naira is trading at 710 Naira Per Dollar. The Nigerian Economy is drastically affected by the Dollar to Naira exchange rate.
Today Naira Exchange rate is stated above, kindly note that this page is refreshed every 10 hours to see the new exchange.
Meanwhile, So many Nigerians prefer to exchange their foreign currencies, especially the US Dollar to Naira using the black market because the exchange rate is very high compared to what the bank offers.
What you should know about Nigeria’s Digital Currency (eNaira)
- In August, the Central Bank of Nigeria (CBN) announced that Bitt Inc., an international fintech firm, has been appointed as the Technical Partner for its digital currency, dubbed eNaira, which would be presented later this year.
- Bitt Inc is a financial technology business that uses blockchain and distributed ledger technology to enable safe peer-to-peer transactions with seamless mobile money across Bitt’s software and mobile apps.
- The Central Bank of Nigeria has stated that the e-naira which will be launched on October 1, is a legal tender equal to the naira and must be accepted as a form of payment by all merchants and business establishments.
- For more information visit the official website here. https://enaira.com/
- You can also learn how to become an eNaira Merchant and start making money.
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