Dollar To Naira Exchange Rates Today & Black Market – December 2018

This post is being updated everyday just to make sure that it is accurate. We update immediately there is a change in exchange rate between the Naira and the Dollar.

The post contains all Dollar to Naira exchange rate variables that exist in Nigeria. Here you will find the Dollar to Naira Black Market Rate, Dollar to Naira Official Exchange Rate, Bank Rate, Western Union Rates (Dollar to Naira) and Money Gram Rate (Dollar to Naira). We also included a table that shows the Dollar to Naira exchange rate history from 1981 to date.

Dollar to Naira Black Market Rate

  • Buying @ 1 US Dollar 362 Naira
  • Selling @ 1 US Dollar = 366 Naira

Naira to Dollar Black Market Rate

  • Buying @ 1 Naira 0.00276 US Dollar
  • Selling @ 1 Naira 0.00273 US Dollar

Dollar to Naira CBN Rate

  • Buying @ 1 US Dollar 305.8 Naira
  • Selling @ 1 US Dollar = 306.8 Naira

Naira to Dollar CBN Rate

  • Buying @ 1 Naira 0.00327 US Dollar
  • Selling @ 1 Naira 0.00325 US Dollar

Western Union Rates

  • Receiving @ ₦348.57 per $1

Money Gram Rate

  • Receiving @ ₦353.23 per $1

Exchange Rate History Dollar To Naira

The exchange rate history on the table below shows the opening and closing exchange rate of the Naira against the United States Dollar (USD) from 1981 to date.

The figures below is the exchange rate of $1 to Naira.

Year January December
1981 ₦0.53 ₦0.63
1982 ₦0.64 ₦0.67
1983 ₦0.67 ₦0.74
1984 ₦0.74 ₦0.80
1985 ₦0.82 ₦0.95
1986 ₦0.99 ₦3.18
1987 ₦3.64 ₦4.16
1988 ₦4.17 ₦5.35
1989 ₦7.03 ₦7.62
1990 ₦7.86 ₦8.70
1991 ₦9.21 ₦9.86
1992 ₦9.56 ₦19.66
1993 ₦20.10 ₦21.88
1994 ₦21.88 ₦21.88
1995 ₦21.88 ₦21.88
1996 ₦21.88 ₦21.88
1997 ₦21.88 ₦21.88
1998 ₦21.88 ₦21.88
1999 ₦86.00 ₦97.60
2000 ₦98.78 ₦106.71
2001 ₦110.55 ₦112.98
2002 ₦113.96 ₦126.88
2003 ₦127.06 ₦137.22
2004 ₦136.08 ₦132.86
2005 ₦132.86 ₦130.29
2006 ₦130.29 ₦128.29
2007 ₦128.27 ₦118.20
2008 ₦117.97 ₦126.47
2009 ₦145.78 ₦149.69
2010 ₦149.77 ₦150.47
2011 ₦151.54 ₦158.20
2012 ₦158.38 ₦157.32
2013 ₦157.30 ₦157.27
2014 ₦157.29 ₦169.68
2015 ₦169.68 ₦196.99

Official Exchange Rate of Dollar

The Nigeria Official Exchange Rate (bank rate) of the United States Dollar is currently fixed (pegged) by the Central Bank of Nigeria (CBN). This is the rate all banks in Nigeria are expected to exchange the USD for the Naira. Although there might be slight changes depending on the bank you are trading with.

Black Market Rate of Dollar

The black market exchange rate of dollar is the price at which vendors operating outside legal banking channels exchange the dollar for Naira – always with the aim of maximizing huge profit. For this reason the black market rate will always be higher than the official exchange rate.

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