If you are Nigerian, and you have been a Nigerian for at least the past 12 months, you should not be oblivious to how inconsistent the Naira has been against other currencies – particularly the Dollar. The native currency of Nigeria, the Naira, has been on a rather disappointing free fall.

Black market Dollar to Naira exchange rate today

Anyone who has been following the forex market and trends keenly would agree that the frequent snowballing and decline of the Naira tells that the once valued currency wouldn’t taste stability anytime soon.

SEE ALSO: Black Market Pound to Naira Exchange Rate Today

And since we aren’t in an Economics or a Business class, we would be skipping the reasons as to why the currency is in the phase it presently finds itself.

Moving on, we will be providing, through this article, the Black market Dollar to Naira exchange rate today. For repetition sake, the Dollar (the most recognized and widely used currency in the world) has far subdued the Naira and has left the latter currency (Naira) in a rather wide ratio gap. The gap, trust me, is as wide as the geographical distance between the two countries… sarcastically speaking, though?

Although the official Dollar to Naira exchange rate has been pegged by the Central Bank of Nigeria (CBN) at $1 to N305, the sad part remains not everyone can get the Dollar at that rate. Hence leaving the Black market as a last resort for some (if not most) people.

The figures below show the Black market Dollar to Naira exchange rate today (July 2018).

  • N358 – to buy $1
  • N361 – to sell $1

What this simply means is that Black-market operators would buy your Dollar (if you have any to sell) at the rate of N358 per Dollar.

On the other hand, if you have some needs that require the Dollar, Black-market operators will fulfill your need as long as you pay them N361 per Naira you for each Dollar you need.


Date Naira Per Dollar
1999 N21.89
2001 N85.98
2002 N99 – N106
2003 N109 – N113
2004 N114 – N127
2005 N127 – N130
2006 128.50-131.80
2007 120-125
2008 115.50-120
2009 145-171
2010 148.21-154.8
2011 151.05-165.1
2012 155.09-161.5
2013 153.21-162.9

To conclude, the current rate is far better than what it used to be some weeks back. Let’s keep our heads high, and fingers crossed and hope for a more reasonable rate.

Stay glued to this platform ( as we would constantly be updating you daily with news concerning the currency, its rate, and other information.

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