How Much is Dollar to Naira Today?
If you’re wondering how much a dollar is to Nigerian Naira today, you’re not alone. Exchange rates shift daily, and whether you trade crypto, gift cards, a business owner, traveler, freelancer, or investor, staying updated can help you make smart financial decisions.
In this article, we’ll break things down in a simple and engaging way, covering both the official exchange rate and the black market rate, why they differ, how to convert dollars to naira, and what factors influence these fluctuations.
By the time you’re done reading, you’ll not only know the current rates but also understand why they change and how to get the best deal when converting your money.
How Much is Dollar to Naira Today?
Here’s a quick conversion table based on today’s exchange rates.
Current Dollar to Naira Exchange Rate (February 26, 2025)
As of February 20, 2025, the exchange rate for 1 USD to NGN varies based on the source and market.
Official Exchange Rate
- The Central Bank of Nigeria (CBN) last updated its official rate on February 13, 2025, setting it at ₦1,507.88 per USD.
- While the CBN hasn’t released a new rate since then, financial platforms like Xe.com reported a slightly updated figure:
- ₦1,506.70 per USD (as of February 20, 2025, at 6:36 AM UTC).
Black Market Rate (Parallel Market)
- Exchange rates in the black market are significantly higher than the official figures.
- As of February 19, 2025, currency dealers were:
- Buying USD at ₦1,655
- Selling USD at ₦1,673
Comparison of Exchange Rates
| Exchange Type | 1 USD to NGN |
|---|---|
| CBN Official Rate (Last Updated Feb 13) | ₦1,507.88 |
| Financial Platforms (Xe.com, Feb 20 Update) | ₦1,506.70 |
| Black Market (Lagos, Feb 19) | ₦1,655 – ₦1,673 |
USD to NGN Conversion Tables
To make conversions easier, here’s how much USD to NGN translates at both the official and black market rates.
Dollar to Naira Official Rate (₦1,506.70 per USD)
| USD | NGN Equivalent |
|---|---|
| 1 | ₦1,506.70 |
| 5 | ₦7,533.50 |
| 10 | ₦15,067.00 |
| 20 | ₦30,134.00 |
| 30 | ₦45,201.00 |
| 50 | ₦75,335.00 |
| 100 | ₦150,670.00 |
| 200 | ₦301,340.00 |
| 400 | ₦602,680.00 |
| 500 | ₦753,350.00 |
| 1,000 | ₦1,506,700.00 |
| 1,200 | ₦1,808,040.00 |
| 5,000 | ₦7,533,500.00 |
Dollar to Naira Black Market Rate (₦1,673 per USD)
| USD | NGN Equivalent |
|---|---|
| 1 | ₦1,673 |
| 5 | ₦8,365 |
| 10 | ₦16,730 |
| 20 | ₦33,460 |
| 30 | ₦50,190 |
| 50 | ₦83,650 |
| 100 | ₦167,300 |
| 200 | ₦334,600 |
| 400 | ₦669,200 |
| 500 | ₦836,500 |
| 1,000 | ₦1,673,000 |
| 1,200 | ₦2,007,600 |
| 5,000 | ₦8,365,000 |
These rates can change multiple times a day, so it’s best to check trusted sources before making any transactions.
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Understanding the Dollar to Naira Exchange Rate
At its core, an exchange rate tells you how much one currency is worth compared to another. If you’re holding U.S. dollars and want to convert them to Nigerian Naira, you’ll likely come across two different rates:
- Official Rate – This is the rate set by the Central Bank of Nigeria (CBN) and used by banks and authorized dealers.
- Black Market Rate – This is the rate used by private currency traders, also known as the parallel market.
But why are there two rates?
The official rate is often controlled by government policies, while the black market operates based on supply and demand. When foreign exchange is scarce, people turn to the black market, where rates are usually higher.
How to Convert US Dollars to Nigerian Naira
If you need to convert USD to NGN, here are a few ways to do it:
1. Using the Official Banking System
- Visit your bank (e.g., GTBank, Zenith, UBA) and exchange dollars at the official rate.
- This is usually the best option for large transactions or businesses that must comply with regulations.
- However, banks may have strict limits on how much forex you can access.
2. Using Black Market Dealers
- If you’re unable to get dollars through banks, you might resort to black market traders.
- While the black market rate is usually higher, availability can be unpredictable.
- Transactions here come with risks, as rates vary widely and there’s little to no buyer protection.
3. Using Online Currency Exchange Platforms
- Services like Wise (formerly TransferWise), Payoneer, Western Union, and Bitcoin exchanges provide alternative ways to convert USD to NGN.
- Some of these services offer better exchange rates than banks but may charge extra fees.
Why Does the Exchange Rate Fluctuate?
Now, you might be asking: Why does the value of the dollar keep changing against the naira? Well, several key factors influence the exchange rate:
1. Supply and Demand
- If there’s high demand for U.S. dollars (e.g., businesses importing goods, travelers, forex traders), the price increases.
- If there’s an abundant supply of USD, the rate stabilizes or even drops.
2. Government Policies & CBN Intervention
- The Central Bank of Nigeria (CBN) plays a big role in determining the official exchange rate.
- CBN sometimes injects foreign reserves into the market to stabilize the naira.
3. Inflation in Nigeria
- If Nigeria’s inflation rate is high, the naira loses value, making the exchange rate unfavorable.
- This is why prices of goods and services increase over time.
4. Global Oil Prices
- Since Nigeria earns most of its forex from oil exports, low oil prices mean fewer dollars in circulation.
- When oil prices drop, the naira weakens because the country earns less foreign exchange.
5. Political and Economic Stability
- Investors prefer stable economies, so if Nigeria faces political uncertainty or economic crises, foreign investors pull out their dollars, making the exchange rate worse.
How to Get the Best Exchange Rate
If you’re looking to get the most value when converting your money, consider these tips:
- Use a currency converter app (like Wise, XE, or NgnRates) to compare live exchange rates.
- Avoid exchanging money at airports—they often offer the worst rates.
- If using the black market, negotiate and check multiple sources before agreeing on a rate.
- Consider timing your transactions—exchange rates fluctuate daily, and sometimes waiting a few days can mean better rates.
Historical Performance of USD to NGN
Let’s take a quick look at how the exchange rate has changed over time:
| Year | Official Rate (CBN) | Black Market Rate |
|---|---|---|
| 2020 | 380 NGN | 450 NGN |
| 2021 | 410 NGN | 500 NGN |
| 2022 | 450 NGN | 580 NGN |
| 2023 | 750 NGN | 900 NGN |
| 2024 | 1,200 NGN | 1,350 NGN |
| 2025 | 1,509.98 NGN | 1,570 NGN |
As you can see, the naira has weakened significantly over the years. This trend is expected to continue unless Nigeria takes strong economic measures.
Frequently Asked Questions (FAQ)
How much is 200 dollars to naira?
At the official rate, 200 USD is ₦301,340, while in the black market, it is around ₦334,600.
How much is 5000 dollars to naira?
At the official exchange rate, 5,000 USD is ₦7,533,500, while in the black market, it is about ₦8,365,000.
How much is 50 dollars to naira today in the black market?
At the black market rate, 50 USD is approximately ₦83,650.
How much is 1500 dollars to naira?
At the official exchange rate, 1,500 USD is ₦2,260,050, while in the black market, it is about ₦2,509,500.
How much is 4000 dollars to naira?
At the official exchange rate, 4,000 USD is ₦6,026,800, while in the black market, it is around ₦6,692,000.
How much is 1200 dollars to naira?
At the official exchange rate, 1,200 USD is ₦1,808,040, while in the black market, it is around ₦2,007,600.
How much is $1 today in the Naira black market?
One US dollar is being exchanged for ₦1,673 in the black market.
How much is $100 dollars in naira today?
At the official rate, 100 USD is ₦150,670, while in the black market, it is around ₦167,300.
How much is 1 dollar in CBN today?
According to the Central Bank of Nigeria (CBN), 1 USD is ₦1,507.88.
How much is Aboki dollar to Naira today?
The Aboki black market exchange rate for 1 USD is ₦1,673.
How much is dollar to Naira today in the bank?
The bank exchange rate, which follows the CBN rate, is ₦1,507.88 per dollar.
How much is dollar to Naira today in the black market?
In the black market, 1 USD is being bought for ₦1,655 and sold for ₦1,673.
How much is 100 dollars to Naira in the black market today?
In the black market, 100 USD is exchanged for approximately ₦167,300.
Final Thoughts: Where is the Dollar to Naira Rate headed?
The big question is: Will the naira gain strength, or will the exchange rate get worse?
Short-Term Prediction (2025)
Given Nigeria’s current economic conditions, it’s unlikely that the naira will gain much strength soon. With foreign reserves dwindling and high inflation, the exchange rate may fluctuate between 1,500 NGN and 1,700 NGN per USD in the coming months.
