US Dollar rate is ₦1,161.131 announced by Central Bank of Nigeria (CBN) today, April 19, 2024. US Dollar started this week at ₦1,161.714 in CBN exchange rate lists on Monday, April 15, 2024. This makes a 0.05% decrease for US Dollar rate against Naira in CBN this week.
To have a monthly quick review, USD rate suggested by CBN was ₦1,330.756 at the beginning of April on Tuesday, April 02, 2024. As of today with USD seen at ₦1,161.131, we see a 12.75% fall for USD to Naira exchange rates in CBN for this April.
Disclaimer: NgnRates.com can not guarantee correctness and trustworthiness of the information and contacts shared here.
| Dollar | Naira |
|---|---|
| 1 Dollar to Naira | ₦ 1,161.131 |
| 5 Dollars to Naira | ₦ 5,805.655 |
| 10 Dollars to Naira | ₦ 11,611.31 |
| 20 Dollars to Naira | ₦ 23,222.62 |
| 50 Dollars to Naira | ₦ 58,056.55 |
| 100 Dollars to Naira | ₦ 116,113.1 |
| 200 Dollars to Naira | ₦ 232,226.2 |
| 500 Dollars to Naira | ₦ 580,565.5 |
| 1000 Dollars to Naira | ₦ 1,161,131 |
| 2000 Dollars to Naira | ₦ 2,322,262 |
| 5000 Dollars to Naira | ₦ 5,805,655 |
Dollar to Naira CBN sell rates are used in calculating the Dollar to Naira conversion table.
| Naira | Dollar |
|---|---|
| 1 Naira to Dollar | $ 0.0009 |
| 5 Nairas to Dollar | $ 0.0043 |
| 10 Nairas to Dollar | $ 0.0086 |
| 20 Nairas to Dollar | $ 0.0172 |
| 50 Nairas to Dollar | $ 0.043 |
| 100 Nairas to Dollar | $ 0.086 |
| 200 Nairas to Dollar | $ 0.172 |
| 500 Nairas to Dollar | $ 0.43 |
| 1000 Nairas to Dollar | $ 0.86 |
| 5000 Nairas to Dollar | $ 4.3 |
Dollar to Naira CBN buy rates are used in calculating the Naira to Dollar conversion table.
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Can anybody explain to me why people buy USD on the black market at N575 when the official bank rate is around N410 ? I am foreigner and want just to understand the exchange dynamic in Nigeria :-)
All increase in price is about the demand and supply. The disparity between the BDCs rate and Bank rate is about the demand in the black market. Remember, 1. CBN is no longer supplying USD to the BDCs - shortage in the market that brings high demand. 2. CBN banned some (44) commodities from obtaining FX at the I&E Window - Increase in demand in the black market. 3. The Bank rate has limit - low accessibility - high demand - Though the limit can be lifted, but not in all cases.
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