Naira to Dollar exchange rate – black market today

For those of us who might be interested in knowing daily currency exchange rate of the Naira to Dollar, Naira to Euro, Naira to pounds on both official bank rates and the black market  , can get it here.

Updated: 20th June, 2016 marks the End of Nigeria’s 15-Month Currency Peg. 

New currency exchange rate regime begins. Trading started at 9:00 am (0800 GMT) this morning.  All the 24 commercial banks  participated. The unified market exchange rate (official bank exchange rate)  is 249 to 265 naira to the dollar. At 1000 GMT, official bank exchange rate was quoted at 262.50 naira against the dollar.

Naira to Dollar Black market rate in lagos Nigeria,  18/06/16, 20/06/ 2016, ……..

NGN usd USD gbp GBP eur EUR
BUY / SELL BUY / SELL BUY / SELL
20/06/16 330 / 345** 445 / 480** 360 / 380**
20/06/16 330 / 345* 450 / 500* 340 / 400*
18/06/16 330 / 335 450 / 500 340 / 390

Naira to Dollar Black market rate in Enugu Nigeria,  20/06/ 2016

BUY / SELL BUY / SELL BUY / SELL
20/06/16 320 / 330** 440 / 460** 360 / 380**
20/06/16 315 / 325* 450 / 500* 340 / 400*

Subsequent update of this post will come via the comments.

Naira experiences its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the black market today. This is N20 depreciation when compared with the closing exchange rate of N325 per dollar in the parallel market on Friday, 12th February.
Naira also depreciated by N45 against the British pound as the black market exchange rate rose to N485 per pound, N340 as on Friday.

naira to dollar black market today

However, naira remains relatively same at the official interbank foreign exchange market as the interbank rate (official exchange rate of naira to dollar) stood at N197.47 per dollar at the close of business yesterday, 15th February.

The gap between the interbank rate and the black market rate deepens to N147.53 per dollar from N127.53 per dollar last week.
It has been noted that the naira has been on a steady decline since January 12, 2016, when the Central Bank of Nigeria, CBN, stopped weekly dollar sale to BDCs. Consequent to this action, the naira traded at N265 per dollar in the black market. The steady depreciation was also compounded by inability of the CBN to meet foreign exchange demand.

Here is the dollar to naira exchange rate – black market today and official exchange rate (interbank rate).

            DOLLAR TO NAIRA EXCHANGE RATE-BLACK MARKET

NAIRA              DOLLAR    POUND    EURO
(NGN)                      (USD)    (GBP)           (EUR)
Buy / Sell   Buy / Sell    Buy / Sell

12/02/2016    330 / 335  446 / 452  350 / 360
15/02/2016     337 / 340  450 / 455  365 / 370
16/02/2016    345 / 350  465 / 470  367 / 375

UPDATED: For the latest and every other day naira to dollar exchange rate  changes for black  or parallel market , check the comment box below.

SEND THROUGH: WESTERN UNION TRANSFER

NAIRA        DOLLAR     POUND     EURO
(NGN)              (USD)        (GBP)             (EUR)

12/02/2016   193.83     286.71           217.97
15/02/2016  193.83    285.57          216.19
16/02/2016   193.83     284.90          215.69

UPDATED: For every other day naira to dollar exchange rate  changes – sending money via western union, you can check the comment box below.

CBN EXCHANGE RATES (INTERBANK RATE )

NAIRA           DOLLAR   POUND     EURO
(NGN)               (USD)      (GBP)            (EUR)

12/02/2016  197.00    286.46       222.26
15/02/2016  197.00    285.00        220.56

 

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

20 thoughts on “Naira to Dollar exchange rate – black market today”

  1. Naira to dollar black market today 17/02/2016

    Naira depreciated heavily again today, hits N352- USD1

    Parallel market traders are now selling at N352 – USD1.
    The Nigerian Naira has continued weaken in value against the US Dollar. Our national currency is now valued at N352 to USD1 on the parallel market, falling in value between N345 -N347 to the dollar yesterday. While some market operators did sell at N352 – USD1 yesterday, the market rate appears to have been in flux between N347 – N352.

    The Central Bank of Nigeria official prices remains N197 – USD1.

  2. Naira to Dollar black market today, 18/02/2016 hits N385 – USD1.

    The naira depreciated further to N385 per dollar today. When compared with the closing exchange rate of N325 per dollar, naira has depreciated by N60 against the dollar this week in the parallel market.

    Official interbank foreign exchange market remain stable at the interbank rate – N199.34

    NAIRA…….DOLLAR….POUND…..EURO
    (NGN)…….(USD)….(GBP)……(EUR)
    ………….N385…..N505…….375

    Also, the naira depreciated against the British pounds to N505 per pounds in the parallel market, implying N65 depreciation when compared with the closing rate of N440 last Friday.

  3. This is the best time to start earning in dollar and be able to withdraw in dollar.
    Though I do not like the idea of what our banks are doing, they are behaving as if they BDC, when you want to make payment online they charge you the black market exchange rate but when you want to collect WU, then they charge you CBN official rate…abeg…wetin?

    1. Hello Iroko,
      You’re right, best time to earn in dollar. However, I bet you; our commercial banks will never want to let you withdraw the dollar.
      They will charge you at black market exchange rate when you want to make online payment; and push you to sell your dollar to them at CBN official rate (interbank exchange rate) rather than allowing you to withdraw it.

  4. Naira to Dollar black market today, 19/02/2016 hits N400 against 1 US dollar.

    Naira slumps furthers between N391-N400 against USD1 today. Earlier yesterday, the exchange rate on the parallel market was N385, but dramatically the rate changed to N400 by last night.

    The Nigerian Naira has continued to weaken on the parallel market, having lost 26% of its value in less than two weeks.

    According to Punch reports, the naira hit 391 against 1 US dollar.
    The official CBN rate remains at N199.25 against USD1.

    The British pounds strengthens slightly at N485 as against N505 at which sell closed yesterday in the parallel market. The official CBN pounds exchange rate remains at N284 – 1 GBP.

    1 EUR is valued at N405, an indication of slight free- fall as against N375 of yesterday parallel market.

  5. Naira to Dollar black market today, 22/02/2016.

    N375 = 1 USD
    Naira strengthens to N375 against 1 US dollar in the paraller market today as the demand for the greenback began to drop.

    The CBN official interbank rate remained at 199.50 to the dollar at the close of trading.

    EUROS and Pounds updates comes tomorrow

  6. Naira to Dollar black market today, 23/02/2016.

    N345 = 1 USD
    Naira appreciated further to N345/$ today, Tuesday.

    Bureaux de change BDC operators voiced their support for the federal government’s position against further devaluation of the naira. They kicked against further devaluation of the naira.

    1. Update: Naira to Dollar black market today, 24/02/2016 Wednesday; Evening

      N260 = 1 USD
      Naira strengthens further to N260 per US dollar today, Wednesday evening. The Naira rose to N260/$, heading to close sell at the price of N250/$.

      Speculators are doom!!!

  7. Naira to Dollar black market today, 25/02/2016 Thursday.

    In Enugu, N252 = 1USD.
    In Abuja and Lagos; N355 = 1USD.

    Naira rose to N252 against 1 US dollar in the parallel market in Enugu while in Abuja and Lagos, Vanguard Nigeria report that Naira depreciated to N355 per dollar in the market.

    My interaction with one of BDC agent in Enugu reveal that the top BDC Men lost millions of Naira with this sharp rise of Naira. The differences seen among these parallel market could not be ascertain; however it is all attributed to the law of demand and supply in these three locations

    Naira also strengthen against EURO and Pounds in Enugu,

    Meanwhile, confusion has ensue among speculators and BDC agents as it is hard to speculate exchange rate in the parallel market these days.

  8. Naira to Dollar black market today, 26/02/2016 Friday.

    Selling – N310 =1USD
    Buying – N340 =1USD
    Naira sharply depreciate, hits N310 per 1 Us dollar in Enugu as against N252 yesterday close sell.

    In Abuja and lagos, Naira fluctuates around yesterday’s close sell.

  9. Naira to Dollar black market today, 29/02/2016 Monday.
    Naira depreciated further, hits N360 per 1 USD.

    President Buhari has maintain his stance not to devalue Naira saying that it will not save the current situation in Nigeria.

  10. Naira to Dollar black market today, 02/03/2016 Wednesday.

    Naira fluctuates between N315 and N320 against 1USD in the parallel market.

    All effort made by central bank of Nigeria, CBN to stabilize naira against dollar has remain futile up-til this moment.

  11. Naira to Dollar black market today, 12/03/2016 Saturday.

    Naira fluctuates against Dollar throughout the working days of this week, sold at N315 per US dollar today, Saturday 12/03/2016

  12. BANK ATM RATES
    DATE….LOCATION….BANK….RATE……CUR
    19/03/16…Canada…..Diamond…N242…CAD
    19/03/16…Canada….GTB…….N235…..CAD
    19/03/16…Malaysia..GTB……..N75……MYR
    18/03/16…Online……GTB ……..N426……GBP
    18/03/16 …Online….Stanbic….N40……GBP
    18/03/16…Online …..Fidelity…N325…..USD
    18/03/16…Online…..GTB ……….N300 ….USD
    18/03/16…Ireland…..GTB………N335……EUR
    18/03/16…Online……Access…..N308…..USD
    18/03/16…Online…..Heritage…N310….USD
    18/03/16…Online…..Stanbic……N280…..USD
    18/03/16…Online…..Diamond……N310…US

  13. Lagos black market
    NAIRA ……..DOLLAR……POUND……..EURO
    (NGN)…….(USD)……….(GBP)……..(EUR)
    ………..BUY / SELL ….BUY / SELL….BUY / SELL
    18/03/16…320 / 326…….451 / 456……345 / 352
    18/03/16…321 / 326……453 / 456…….345 / 352
    18/03/16…320 / 325……450 / 454……350 / 355
    17/03/16…320 / 325……450 / 454……350 / 355
    16/03/16…320 / 325……448 / 455……350 / 355
    15/03/16…320 / 325……445 / 452…..351 / 355
    14/03/16…321 / 324……..440 / 448…..345 / 350
    11/03/16…320 / 325…….440 / 450…….340 / 350

    1. Hello Muhd,
      In today’s black market, Naira is sold at N317 against US dollar.

      Throughout last 3 weeks till today, Naira has maintain a relatively the same exchange rate between N315 and N320 against a US dollar in the black market.

      On the other hand, Naira is sold at N345 against 1 Euro in black market today.

  14. In Lagos today, the Naira traded at N322 to a dollar at the black market. The currency was stable in the previous week, maintaining value of between N315 and N320 to a dollar.

    Other hand, the naira traded at N450 and N360 for Pound Sterling and the Euro respectively, at the day’s transaction. The naira also maintained N197 at the official Central Bank of Nigeria (CBN) rate.

    In Enugu, Naira was sold for N317 against a dollar. However, Naira was traded at N365 against Euro.

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