The official exchange rate of the US dollar to the Nigerian naira, as of today, 30th April 2024, is ₦1,419.11 per US dollar. In a twist of events, the black market offers a lower rate than the official market.
Dollar to Naira Exchange Rates Today
CBN Official Rate:
- Buying rate: ₦1,419 per US Dollar.
- Selling rate: ₦1,419 per US Dollar.
Black Market Exchange Rate:
- Buying rate: ₦1,330 per US Dollar.
- Selling rate: ₦1,350 per US Dollar, much higher than the official rate.
Comparison to Yesterday’s Rate: The Naira has depreciated significantly in the official market but remains unchanged against the dollar in the parallel market.
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As of yesterday, the Nigerian Naira showed signs of recovery, opening the week to trade at ₦1,165 and ₦3,330 per US dollar at the official and black markets, respectively. However, yesterday, the naira closed trading at ₦1,419 in the investor’s and Exporters’ window. This is the rate that the CBN uses for its transactions and interventions in the foreign exchange market. The official rate is also the basis for the exchange rates of other foreign currencies. This is the 8th consecutive time the naira has weakened against the dollar in the official market since it appreciated as high as ₦1,072.
| Denomination in Dollars ($) | Black Market Exchange Rate in Naira (₦) |
| $1 | ₦1,330 |
| $5 | ₦6,650 |
| $10 | ₦13,300 |
| $20 | ₦26,600 |
| $50 | ₦66,500 |
| $100 | ₦133,000 |
| $200 | ₦266,000 |
| $500 | ₦665,000 |
| $800 | ₦1,064,000 |
| $1000 | ₦1,330,000 |
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