How does the black market dollar-to-naira exchange rate compare to the official rate?
The official exchange rate of the US dollar to the Nigerian naira, as of today, 9 May 2024, is ₦ 1,413 per US dollar.
Date | Currency | Buying(NGN) | Central(NGN) | Selling(NGN) |
---|---|---|---|---|
5/7/2024 | US DOLLAR | 1412.073 | 1412.573 | 1413.073 |
5/7/2024 | POUNDS STERLING | 1772.8577 | 1773.4854 | 1774.1132 |
5/7/2024 | EURO | 1521.9323 | 1522.4712 | 1523.0101 |
5/7/2024 | SWISS FRANC | 1556.8611 | 1557.4123 | 1557.9636 |
5/7/2024 | YEN | 9.1485 | 9.1518 | 9.155 |
5/7/2024 | CFA | 2.2513 | 2.2613 | 2.2713 |
5/7/2024 | WAUA | 1827.1484 | 1827.7953 | 1828.4423 |
5/7/2024 | RIYAL | 376.4926 | 376.6259 | 376.7592 |
5/7/2024 | DANISH KRONA | 203.9919 | 204.0642 | 204.1364 |
5/7/2024 | SDR | 1867.4665 | 1868.1278 | 1868.789 |
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, such as the euro, the pound sterling, and the Chinese yuan.