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Dollar to Naira Exchange Rate Today (Black Market and CBN Rates)

For those of us who might be interested in knowing daily currency exchange rate of the Naira to Dollar on both  black market and official bank exchange rate, welcome to Nigeria Resource Hub Dollar to Naira Exchange Rate.

Naira to Dollar CBN Market Rate in Nigeria,  23rd  February, 2024.

Nigeria Naira against dollar

According to the Central Bank of Nigeria (CBN) recent release, the Nigerian Naira is currently exchanged with the United States Dollars at N1,488 per $1.

$1 = N1,488

Naira to Dollar Black Market Rate Today

The Naira to Dollar exchange rate in today’s black market is between ₦1,680 to ₦1,800 according to the information gathered from resourceful traders, agents and exchangers all over the country.

Naira to Dollar Market Analysis Today

Why the Naira is Falling:

Below are some factors that cause the downfall of Nigerian Naira…

  • Shortage or low supply of Dollars.
  • Uncertainty, fear and lack of trust in the value of Naira can force Nigerians to push their funds into Dollar accounts making the dollar value to rise more against the Naira.

Keep in Mind

The depreciation in Nigerian Naira will increase the cost of goods and services, cost of living, discourage foreign investors and affect Nigerian economy at large.

For questions and comments on black market naira to dollar exchange rate today, you can use the comment box below.


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