Dollar to Naira Black Market Rate Today with Official CBN Rates
In this blog post, we shall be revealing to you current dollar to Naira black market rate today. If you are interested in making any dollar transaction in Nigeria then this post if for you. Kindly read through till the end to see the black market dollar rate to Naira in Nigeria.
With the current market realities, the Naira keep depreciating against the dollar. This is because of the high rate of demands at the black market while the US dollar keep rising.
Recently, the federal government floated the Naira meaning that force of demand will determine its value. They also unified the exchange rate between the black market rate and the Import and export window otherwise known as I&E window.
Since Nigeria only produces 30% of goods they consume and import the rest, it is imperative that prices of goods will increase and thereby weakening the naira the more.
Students and investors now spend more in education and importing of goods into the country due the unification of the exchange rates. Assuming your school fees or cost of what you want to import into the country is $1000. Going by the previous exchange rate of 410, that means you will pay N410,000. But with the exchange rate unification, you will have to pay 2x or 3x of the previous amount paid before.
Dollar to Naira Black Market Rate Today
The list below will show you the current black market rates for different currencies.
- Dollar: We Buy – 994; We Sell – 997
- Pounds (GBP) – We Buy – 1255; We Sell – 1268
- Euro (EUR) – We Buy – 1040; We Sell – 1053
- Dollar (CAD) – We Buy – 800; We Sell – 820
- Rand (ZAR) – We Buy – 50; We Sell – 60
- Dirham (AED) – We Buy – 240; We Sell – 255
- Yuan (CNY) – We Buy – 110; We Sell – 125
- G.Cedi (GHS) – We Buy – 72; We Sell – 80
- Aussie (AUD) – We Buy – 500; We Sell 530
The list below will show you the CBN Rates of different currencies.
- Dollar (USD) – 762.54
- Pounds (GBP) – 927.40
- Euro (EUR) – 801.81