Discover the latest Dollar to Naira exchange rate today and stay updated on the current value of the Nigerian currency.
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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.
Dollar to Naira Today
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.
| Market | Dollar ($) | Naira (₦) |
| Black market: | $1 | BUY ₦755 SELL ₦765 |
| CBN rate: | $1 | BUY ₦461.9 SELL ₦462.9 |
Dollar to Naira Rates on June 8, 2023: An Analysis
The black market in Nigeria is a vibrant, pulsating hub for currency trading. On this date, the USD to NGN exchange rate was as follows:
Buying Rate: ₦765
Selling Rate: ₦770
This information comes directly from reputable currency dealers in Abuja Zone 4 market, Lagos, Nigeria. It is worth noting that these rates represent the broader black market trends.
“The black market, also known as the parallel market, reflects the most immediate and realistic rates at which money can be exchanged. It is an invaluable resource for both buyers and sellers in Nigeria.”
A Snapshot of the Black Market Exchange Rates
Below is a table featuring the most popular currencies traded in Nigeria’s black market:
| CURRENCY | BUYING RATE | SELLING RATE |
|---|---|---|
| USD to NGN | ₦765 | ₦770 |
| GBP to NGN | ₦920 | ₦930 |
| EUR to NGN | ₦790 | ₦815 |
| CAD to NGN | ₦580 | ₦610 |
| ZAR to NGN | ₦31 | ₦38 |
| AED to NGN | ₦180 | ₦200 |
| CNY to NGN | ₦80 | ₦90 |
| GHS to NGN | ₦40 | ₦55 |
| XOF to NGN | ₦1050 | ₦1100 |
| XAF to NGN | ₦920 | ₦950 |
This data serves as a quick reference guide for Bureau De Change (BDC) operators and anyone interested in the foreign exchange market in Nigeria.
Official Exchange Rates for Today
The Central Bank of Nigeria (CBN) provides official exchange rates for various currencies. Here’s a look at what the official exchange rate was for the USD to NGN as of 12th June 2023:
Official Dollar to Naira Exchange Rate: Not Provided
Note: The official rate from CBN is typically more stable but may not always align with the real-time value reflected in the black market.
How Nigerian Banks Stood Today
The exchange rates offered by Nigerian banks can vary quite significantly. Here’s a look at the exchange rates provided by some of the top banks in Nigeria on this day:
GTBank Exchange Rates
| CURRENCY | RATE |
|---|---|
| USD to Naira | ₦490 |
First Bank Exchange Rates
| CURRENCY | RATE |
|---|---|
| GBP | ₦706 |
| EUR | ₦602 |
| CAD | ₦466 |
| USD | ₦470 |
| INR | ₦5.80 |
| RUB | ₦6.20 |
Access Bank Exchange Rates
| CURRENCY | RATE |
|---|---|
| USD to Naira | ₦505 |
| EUR to Naira | ₦531 |
| GBP to Naira | ₦621 |
| CAD to Naira | ₦357 |
| ZAR to Naira | ₦31 |
| INR to Naira | ₦6 |
| TRY to Naira | ₦52 |
| AUD to Naira | ₦299 |
| RUB to Naira | ₦7.10 |
| SGD to Naira | ₦268 |
| AED to Naira | ₦109 |
| XOF to Naira | ₦800 |
UBA Exchange Rates
| CURRENCY | RATE |
|---|---|
| INR to Naira | ₦6.12 |
| USD to Naira | ₦490 |
| EUR to Naira | ₦566 |
| GBP to Naira | ₦622 |
| CAD to Naira | ₦316 |
| AED to Naira | ₦119 |
Ecobank Exchange Rates
| CURRENCY | RATE |
|---|---|
| USD to Naira | ₦480 |
| GBP to Naira | ₦621 |
| EUR to Naira | ₦499.45 |
| AED to Naira | ₦107 |
| CAD to Naira | ₦299 |
| INR to Naira | ₦5.9 |
Stanbic Bank Exchange Rates
| CURRENCY | RATE |
|---|---|
| USD to Naira | ₦480 |
| EUR to Naira | ₦543 |
| GBP to Naira | ₦646 |
| CAD to Naira | ₦337 |
Understanding these exchange rates can help individuals and businesses make informed decisions about their foreign currency needs. Always remember, the more informed you are, the better decisions you can make. Stay tuned for more updates on the foreign exchange market in Nigeria.
CBN-Dollar to Naira Exchange Rates – June 12th, 2023
According to our records, the Central Bank of Nigeria (CBN) set an official benchmark for the dollar-naira exchange rate at N461.9 for $1 on June 12th, 2023.
- Buying Rate: N461.9
- Selling Rate: N462.9
Please note: This information is subject to market volatility and may have changed since the time of writing.
Dollar to Naira Today: Importance and Exchange Rate Updates
Understanding the Dollar to Naira Today exchange rate is crucial for businesses, investors, and travelers who deal with both the US dollar and Nigerian naira in their transactions.
Daily Exchange Rate Fluctuations
The exchange rate varies daily based on various factors. Keeping track of these fluctuations is essential for businesses importing or exporting goods, as it affects the cost of goods and services. Investors should also monitor exchange rates, as changes can significantly impact the value of foreign currency investments or stocks.
Travelers Benefit from Exchange Rate Knowledge
Knowing the current exchange rate helps travelers budget effectively and make informed decisions when planning trips. It’s crucial to be aware of the rate before making transactions abroad to avoid being shortchanged.
Quick and Easy Exchange Rate Checks
You don’t need to visit a bank or money exchange to check the Dollar to Naira Today rate.
Here are some methods to quickly find the current exchange rate:
- Cross River Hub Website
The Cross River Hub website provides reliable information on the current dollar to naira exchange rate in Nigeria, including Black Market rates, Bureau De Change (BDC) rate, and CBN rates.
- Currency App
Use a free mobile app like Currency App, which covers over 180 global currencies and updates rates every minute. This app allows you to quickly convert currencies and access the latest exchange rates on-the-go.
- Search Engine
Search engines like Google can provide the most up-to-date exchange rate information. Type “USD to Naira Today” in the search box and hit “Enter” to find the current value of one currency in terms of the other.
- CBN Official Website
Visit the Central Bank of Nigeria’s official website to access updated information on various exchange rates and understand the dynamics of exchange rates.
Stay informed about the Dollar to Naira Today exchange rate to make smart financial decisions, whether for business, investment, or travel purposes.
FAQ Dollar to Naira
How much is 1 dollar in naira?
1 United State Dollar Equal to 461.9 Nigerian Naira
How much is 10 dollar in naira?
10 United State Dollar is Equal to 7,700 Nigerian Naira
How much is 20 dollar in naira?
20 United State Dollar is Equal to 15,400 Nigerian Naira
How much is 50 dollar in naira?
50 United State Dollar is Equal to 38,500 Nigerian Naira
How much is 80 dollar in naira?
80 United State Dollar is Equal to 61,600 Nigerian Naira
How much is 100 dollar in Naira (nigeria currency)?
100 United State Dollar is Equal to 77,000 Nigerian Naira
How much is 150 dollar in naira?
150 United State Dollar is Equal to 115,500 Nigerian Naira
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