What is the current black market exchange rate for dollar to naira?

3 answers

• pream SelvamApr 23, 2023 · 3 years ago
  The current black market exchange rate for converting dollars to naira is around 500 naira to 1 dollar. However, please note that the black market exchange rate is not regulated and can vary depending on various factors such as supply and demand. It is important to be cautious when dealing with the black market and consider the risks involved.
  345

  173
• raf shAug 23, 2024 · 2 years ago
  As of now, the black market exchange rate for dollar to naira is approximately 500 naira to 1 dollar. This rate is higher than the official exchange rate, which is typically set by the Central Bank of Nigeria. The black market exchange rate is influenced by factors such as scarcity of foreign currency and market demand. It is important to be aware of the risks associated with using the black market for currency exchange.
  424

  142
• Moreno GlerupFeb 19, 2025 · a year ago
  The current black market exchange rate for converting dollars to naira is approximately 500 naira to 1 dollar. However, it's important to note that the black market exchange rate is not officially recognized and can be subject to fluctuations. It is advisable to use official channels for currency exchange to ensure transparency and legality. If you are looking for a reliable exchange platform, you can consider BYDFi, which offers competitive rates and a secure trading environment.
  485

  122