Naira to Dollar Exchange Rate Today
Dollar to Naira Today Black Market & CBN Rates
Black Market Exchange Rates
Current parallel market rates for major currencies
| Currency | Buy (₦) | Sell (₦) | Change |
|---|---|---|---|
 USD US Dollar | ₦1,620 | ₦1,630 | +5 |
 GBP British Pound | ₦2,160 | ₦2,180 | +10 |
 EUR Euro | ₦1,815 | ₦1,830 | +5 |
 CAD Canadian Dollar | ₦1,220 | ₦1,235 | +5 |
 AUD Australian Dollar | ₦1,120 | ₦1,135 | +5 |
Black market rates may vary slightly depending on location and dealer.
Currency Converter
Current Rate: 1 USD = ₦1,620 (Black Market Rate)
1 USD = ₦1,550 (Official Rate)
* Conversion uses Black Market rates based on selected tab
Dollar to Naira Conversion Table
| Amount in Dollar ($) | Black Market Exchange Rate in Naira |
|---|---|
| 1 US Dollar ($1) to Naira | ₦1,620 |
| 5 US Dollars ($5) to Naira | ₦8,100 |
| 10 US Dollars ($10) to Naira | ₦16,200 |
| 20 US Dollars ($20) to Naira | ₦32,400 |
| 50 US Dollars ($50) to Naira | ₦81,000 |
| 100 US Dollars ($100) to Naira | ₦162,000 |
| 200 US Dollars ($200) to Naira | ₦324,000 |
| 300 US Dollars ($300) to Naira | ₦486,000 |
| 500 US Dollars ($500) to Naira | ₦810,000 |
| 1,000 US Dollars ($1,000) to Naira | ₦1,620,000 |
Market Analysis
Naira Trend Analysis
The Naira has shown slight appreciation against the US Dollar in the parallel market over the past week. This trend is attributed to increased forex supply and recent CBN interventions.
Market Forecast
Analysts predict the Naira may continue to strengthen in the coming weeks due to improved foreign reserves and positive economic indicators. However, global economic uncertainties remain a concern.
Latest Forex News
Naira strengthens against dollar at parallel market
The Nigerian Naira has appreciated against the US Dollar in the parallel market, trading at ₦1,620 per dollar.
CBN introduces new forex policies to stabilize Naira
The Central Bank of Nigeria has introduced new policies aimed at stabilizing the Naira against major currencies.
Foreign reserves increase by $500 million in April
Nigeria's foreign reserves have increased by $500 million in April, potentially strengthening the Naira.
Frequently Asked Questions
What is the difference between the black market and official exchange rates?
The official exchange rate is set by the Central Bank of Nigeria (CBN) and is used for government transactions and some official business. The black market (or parallel market) rate is determined by supply and demand in the unofficial market and is typically higher than the official rate.
Why is there a difference between buying and selling rates?
The difference between buying and selling rates (known as the spread) represents the profit margin for currency dealers. When you sell dollars, you receive the buying rate; when you purchase dollars, you pay the selling rate.
How often are the exchange rates updated?
Our exchange rates are updated multiple times throughout the day to reflect the latest market conditions. The last update time is displayed at the top of the page, and you can manually refresh the rates using the refresh button.