Find out more about the current value of the naira, the rate at which dollars can be exchanged for naira (NGN), and the Black Market. Find out how much a single US dollar is worth in Nigerian naira. You can learn more by visiting
The dollar to Naira exchange rate is important for many conducting business or financial transactions using both the US dollar and the Nigerian naira.
As you know, the exchange rate fluctuates every day according to various factors.
Getting informed about the current exchange rate is crucial for businesses which doing import or export goods, as it affects the cost of goods and services.
Companies need to keep track of the exchange rate to ensure they can remain competitive in the market.
The exchange rate is also important for investors. A change in the exchange rate can significantly impact the value of investments in foreign currencies or stocks.
This is why many investors keep a close eye on the exchange rate and make adjustments to their portfolio as necessary. Being aware of the exchange rate can also help individuals make smart investments and budget effectively.
It is important for travelers also because rate affects the cost of travel, including airfare and hotel accommodation. Knowing the current exchange rate can help travelers budget effectively and make informed decisions when planning a trip.
It’s important for travelers to know the rate before making transactions abroad, to avoid been short changed. Keeping track of the exchange rate is essential for anyone who conducts business or financial transactions involving both the U.S. dollar and Nigerian naira.
You don’t have to go to a bank or money exchange to check the exchange rate. Want to know a quick and easy way to check the exchange rate? don’t worry! have the explanation below.
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Dollar to Naira Today
Market Dollar ($) Naira (₦)
Black market: $1 BUY ₦746
SELL ₦750
CBN rate: $1 BUY ₦460.02
SELL ₦461.02
Black market exchange rate depreciates to N754/$1 on 10th March 2023
On Friday, 10th March 2023, the exchange rate between the naira and the US dollar at the black market experienced a downturn of 0.53% to trade at an average of N754/$1. This is a drop from N750/$1 recorded in the previous trading session. The information was provided by black market FX operators who spoke to Nairametrics.
Cryptocurrency P2P exchange market records a decline
Similarly, the naira fell against the US dollar at the cryptocurrency P2P exchange market, with an average of N745.8/$1 on Friday morning, 10th March 2023. This is a 0.25% depreciation from N743.93/$1 recorded on Thursday.
Official Investors and Exporters window records marginal appreciation
In contrast to the black market and cryptocurrency P2P exchange market, the exchange rate between the naira and the US dollar appreciated marginally by 0.05% at the official Investors and Exporters window to close at N461/$1 on Thursday, 9th March 2023. This is compared to N461.25/$1 that was recorded on Wednesday.
Decrease in transaction value at official exchange
However, a sum of $82.83 million was transacted at the official exchange on Thursday, recording a decrease of 28.34% from the $115.58 million that exchanged hands on Wednesday. The nation’s external reserves stood at $36.44 billion as of Wednesday, 8th March 2023, from $36.47 billion recorded on Tuesday, 7th March 2023.
Exchange rates at the official market
The exchange rate at the official market closed at N461/$1 on Thursday, 9th March 2023, an appreciation of 0.05% from N461.25/$1 recorded on Wednesday, 8th March 2023. The opening indicative rate closed at N461.25/$1 on Thursday, 9th March 2023.
Highest and lowest rates recorded during intra-day trading
Furthermore, an exchange rate of N462.11/$1 was the highest rate recorded during intra-day trading before it settled at N461/$1, while it traded as low as N446/$1 during intra-day trading.
Understanding the Dollar to Naira Exchange Rate in Nigeria Today
As a reader, you may be curious about the current exchange rate between the dollar and naira in Nigeria. Fortunately, you can access this information on the Voice of Nigeria website. In this article, we will explore the official dollar to naira exchange rate in Nigeria for today, including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
Understanding the Exchange Rate
The exchange rate for the dollar to naira changes hourly, depending on the volume of dollars available and the demands. As of the time of filing this report, the exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) is between N765 and N770. However, this rate can change (high or low) within hours.
CBN and the Parallel Market
It is essential to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market, which is also known as the black market. While the parallel market may offer more favorable rates, the apex bank has directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
The Voice of Nigeria website provides a reliable source of information on the dollar to naira exchange rate in Nigeria today. While the parallel market may offer better rates, it is important to follow CBN guidelines and approach your bank for forex. Stay updated on the exchange rate to make informed financial decisions.
Ways to Check Dollar to Naira Today Rates
1. Currency App
To begin, I recommend downloading a free app called Currency App to find current exchange rates. This app can convert over 180 different currencies globally and updates exchange rates every minute. You can use this app on your mobile device to find the value of one currency in another at any time, anywhere in the world.
2. Search Engine
You can also use a search engine like Google to find the exchange rate of a foreign currency. If this is what you would like to do, simply type the name of the foreign currency along with its exchange rate you wish to know and compare it with the value of the Naira. This will be done automatically for you.
For example, to find out how many Naira you can buy with one US dollar, type “USD to Naira Today” into the search box and hit “Enter” on your keyboard. This will tell you how much one currency is worth in the other. The results will be shared with the public as soon as possible. Most of the time, the exchange rate that is shown is the most up-to-date rate that is available at that moment.
3. CBN Official Website
The Central Bank of Nigeria, which is a financial services institution, is in charge of both storing and distributing money. If you go to their official website, you can find out about the different exchange rates for currencies without having to pay anything. If you go to the bank’s website, you can find a full list of the prices of a number of different foreign currencies. This will help you learn more about how exchange rates work.
These are some easy ways to check the current exchange rate. If you are thinking about sending money to another country, you might find the information in this article useful.
FAQ Dollar to Naira
How much is 1 dollar in naira?
1 United State Dollar Equal to 460.02 Nigerian Naira
How much is 10 dollar in naira?
10 United State Dollar is Equal to 4600.2 Nigerian Naira
How much is 20 dollar in naira?
20 United State Dollar is Equal to 9200.4 Nigerian Naira
How much is 50 dollar in naira?
50 United State Dollar is Equal to 23001 Nigerian Naira
How much is 80 dollar in naira?
80 United State Dollar is Equal to 36801.6 Nigerian Naira
How much is 100 dollar in Naira (nigeria currency)?
100 United State Dollar is Equal to 46002 Nigerian Naira
How much is 150 dollar in naira?
150 United State Dollar is Equal to 69003 Nigerian Naira
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