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Dollar to Naira Exchange Rates 2020 (CBN & Black Market)

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Dollar to Naira Exchange Rates 2020 (CBN & Black Market) by : 8:28 pm On March 21, 2020

Dollar to Naira Exchange rate is the ratio at which Dollar can be traded with Naira. To purchase a product in the US or any other Dollar supported country with your Naira currency, you will first convert it to Dollar before you can use it and vice versa. The exchange rate is the value of one currency to another currency for the purpose of transaction. It is expressed in terms of a unit of one currency to another currency.

Dollar to Naira Exchange Rate
Dollar to Naira Exchange Rate

How Much Is Dollar To Naira Exchange Rate Today Black Market {Updated Daily}

The Nigerian currency is Naira while that of the US is Dollar. The exchange rate of Dollar to Naira is, therefore, the price of a unit of Dollar to naira. Because the value of a currency fluctuates with time, the exchange rate is not fixed. Hence, for any international transaction, you will first check the exchange rate at that particular time so as to know how much is involved.

If you are looking for today’s exchange rate of Dollar to Naira or Naira to Dollar, this article can help you out. Read below for the current Dollar to Naira or Naira to Dollar Exchange rate.

Important Facts You Need to Know About Dollars

The word dollar was formed from low Saxton cognate of the High German Thaler. Today, it serves as the name of over 20 currencies in the world. Top countries that use the name Dollar for their currencies are the United States, Australia, Canada, Hong Kong, Jamaica, Liberia, Namibia, New Zeeland, Singapore and Taiwan.

The United States’ dollar is also the official currency of Caribbean, Netherlands, East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshal Islands, Palau, Panama and Zimbabwe. It is of the United States’ dollar to Naira exchange rate that this article is meant for.

The United States Congress adopted the U.S dollars as the standard monetary unit on April 2, 1792. The United States Dollar is also known as the dollar, U.S dollar or American dollar. The dollar symbol is represented by this sign; $. There are so many theories about the origin of the symbol. However, one of the widely accepted theories posits that the sign came from the Spanish Peso.

At first, the dollar currency was made with the silver as coins, and then later the silver was replaced with Gold. Afterwards, the paper dollar emerged. The first U.S paper dollar came out in 1875.

Important Facts About Naira Currency

Like I said before, the Nigerian currency is Naira. The naira was introduced on 1st January 1973 to replace the pound at the rate of 2naira to 1 pound. The currency was subdivided into Kobo. Kobo is the Nigerian local pronunciation of copper. It is the name for the then coins.

Before the adoption of Naira notes, coins were used in Nigeria as a means of payment. The coins were minted in the denomination of half kobo, 1 kobo, 5kobo, 10kobo and 25kobo. The Nigerian currency has suffered high inflation rate and that has made it unstable over the years.

The currency was pegged at 197 to one U.S dollar in 2016. Today, Naira has fallen to the range of 350-400 naira per dollar. Below is the exchange rate history of Dollar to Naira.

Exchange Rate Dollar To Naira Black Market History

  • August 31/2017 – 362 / 365
  • September 29/2017 – 362 / 365
  • October 31/2017 – 360 / 363
  • November 30/2017 – 361 / 364
  • December 31/2017 – 360 / 363
  • January 31/2018 – 361 / 363
  • February 28/2018 – 359 / 363
  • March 29/2018 – 360 / 362
  • April 30/2018 – 360 / 362
  • May 31/2018 – 360 / 363
  • June 29/2018 – 359 / 362
  • July 31/2018 – 357 / 360
  • August 31/2018 – 357 / 361
  • October 31/2018 – 360 / 362
  • November 30/2018 – 365 / 370
  • December 28/2018 – 360 / 364
  • January 31/2019 – 358 / 361
  • February 28/2019 – 357 / 360
  • March 29/2019 – 360 / 357
  • June 30/2019 – 359 / 361
  • July 31/2019 – 357 / 360
  • August 30//2019 – 358 / 360
  • October 31/2019 – 358 / 360

Currency Conversion On Nigerian Naira Parallel Market Selling Rate (Updating)

  • $ 1 = 362
  • $ 10 = 3620
  • $ 50 = 18100
  • $ 100 = 36200
  • $ 200 = 72400
  • $ 300 = 108600
  • $ 500 = 181000
  • $ 1000 = 362000
  • $ 10000 = 3620000

Today’s Dollar to Naira Exchange Rate or Naira to Dollar Exchange Rate

There are so many automated systems that can help you check the current exchange rate of dollar to Naira or Naira to Dollar. Please never rely on any system based on manual calculation like blog posting because the exchange rates can change in a single day or even in an hour. Below are the top currency converters/calculators.

Google Currency Converter / Calculator

Google currency converter or calculator works this way; you just enter www.google.com. Once you are on the website, search for something like these:

  • Dollar to Naira Exchange rate
  • Naira to Dollar Exchange rate
  • Dollar to Naira Exchange rate for today
  • Naira to Dollar Exchange rate for Today
  • 1 dollar to Naira
  • Dollar to Naira Exchange rate 2020
  • Naira to Dollar Exchange rate 2020

Any of the above search term will show you the current dollar to Naira or Naira to Dollar exchange rate. Also, you can calculate the amount of Naira money to dollar or dollar money to naira. For example, you can calculate the amount of 1000 dollars to Naira on Google. This is how to do it, enter Google website, and search for something like these;

  • 10 dollars to Naira
  • 100 dollars to Naira
  • 1000 Dollars to Naira
  • 500000 Dollars to Naira
  • 100000 Dollars to Naira
  • 1000000 Dollars to Naira
  • 1 Thousand Dollars to Naira
  • 1 Million Dollars to Naira
  • 1 hundred dollars to Naira
  • Ten dollars to Naira
  • 350 Naira to Dollar
  • 1000 Naira to Dollar
  • 20000 Naira to Dollar
  • 300000 Naira to Dollar
  • 40000 Naira to Dollar
  • 50000 Naira to Dollar
  • 500000 Naira to Dollar
  • 100000 Naira to Dollar
  • 1000000 Naira to Dollar
  • I billion Naira to Dollar
  • 100 thousand Naira to dollar
  • 1 Million to Dollar

Replace the figure with your amount. Google will calculate and show you the current amount whether in dollars or naira.

Ex-Rate Currency Converter and Calculator – Ex-Rate.com

Ex-Rate Currency Converter is one of the most reliable online currency converters or calculators. It updates automatically anytime there is a change in the exchange rates of any currency.

Online Converter Ex-Rate offers you an ample opportunity to check the exchange rate of currencies from 96 different countries any time, any moment you want to. Their web address is Ex-rate.com

OANDA Currency Converter

Oanda Currency converter or calculator is one of the leading online currency converters. It offers some unique features that are not readily found on other converters. You can check the historical exchange rates of any currency back to 1990. Their web address is WWW.Oanda.com

CUEX Currency Converter

This one will help you find the exchange rates of any currency, you can also convert one currency to multiple other currencies using cross rates.

Chrome Currency Converter

The Chrome currency converter is a browser extension of Chrome that allows you to check the exchange rates of any currencies in a matter of seconds. To use this, go to Chrome, click on Add-ons and search for Currency Converter. From there download and install it.

Currency Converter App / Calculator

Applications are a much easier way to check the exchange rates of any currencies. You don’t need to enter your browser to search for anything or to memorize any web address. With Currency Converter apps, all you have to do is to download and install the app. Whenever you want to calculate the exchange rate of any currency, you just login to the app and in few seconds you will be done. Here are the top Currency Converter Apps on Playstore.

Best Currency Converter App for Android

XE Currency App for Android

This is the app version of XE Online Currency Converter. They have built and uploaded the app version of their website on Play store. You can download the app, by simply visiting Google Playstore. When you are on Playstore, search for this “ XE Currency App for Android “

Best Currency Converter App for iPhone

XE Currency App for iPhones

The XE currency converter also has an iOS app for their website. The app can be downloaded from iTunes

Thanks for reading, please share with your family and friends!

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