What is the Dollar to Naira exchange rate today in the black market? Here’s a detailed update on the latest parallel market currency rates for today, April 22, 2025. These rates reflect real-time street values as reported from key financial hubs across Nigeria, including Lagos and Abuja.
💱 Black Market Exchange Rates (Parallel Market)
| Currency | Buy Rate (₦) | Sell Rate (₦) |
|---|---|---|
| US Dollar (USD) | 1,590 | 1,615 |
| British Pound (GBP) | 2,015 | 2,050 |
| Euro (EUR) | 1,670 | 1,710 |
| Canadian Dollar (CAD) | 1,000 | 1,150 |
| South African Rand (ZAR) | 80 | 100 |
| UAE Dirham (AED) | 380 | 420 |
| Chinese Yuan (CNY) | 190 | 215 |
| Ghanaian Cedi (GHS) | 90 | 105 |
| West African CFA Franc (XOF) | 2,350 | 2,550 |
| Central African CFA Franc (XAF) | 2,250 | 2,400 |
| Australian Dollar (AUD) | 850 | 1,000 |
⚠️ Note: These are unofficial market rates. The Central Bank of Nigeria does not recognize the parallel market and urges individuals to rely on official sources.
CBN Exchange Rates Today
These are the official rates from the Central Bank of Nigeria (CBN) for key global currencies against the Naira as of April 22, 2025
| Currency | CBN Rate (₦) |
|---|---|
| USD (Dollar) | ₁₆₁₂.₂₄ |
| GBP (Pound Sterling) | ₂₀₅₆.₄₁ |
| EUR (Euro) | ₁₇₆₁.₅₃ |
| CHF (Swiss Franc) | ₁₈₇₂.₃₀ |
| JPY (Japanese Yen) | ₁₀.₉₃ |
| XOF (West African CFA Franc) | ₂.₆₄ |
| WAUA (West African Unit of Account) | ₂₀₉₇.₇₉ |
| CNY (Chinese Yuan) | ₂₂₀.₅₈ |
| SAR (Saudi Riyal) | ₄₂₉.₃₃ |
| ZAR (South African Rand) | ₈₂.₃₇ |
Market Insight: What Today’s Rates Mean for Nigerians
As the Naira continues to face pressure in both the official and parallel markets, today’s currency exchange rates highlight the widening gap between black market rates and the CBN benchmark. This divergence often influences the cost of imports, travel, and remittances, affecting millions of Nigerians who depend on foreign currencies.
Stay updated every day with the latest exchange rates and financial insights that impact your money and purchasing power.
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💱 Convert USD, GBP, EUR & More to Nigerian Naira Instantly
Looking to convert foreign currencies like the US Dollar (USD), British Pound (GBP), or Euro (EUR) to Nigerian Naira (₦) using today’s Black Market or CBN official exchange rates?
This easy-to-use currency converter lets you instantly calculate how much your money is worth in Naira based on real-time exchange rates. You can also reverse-convert Naira to any supported foreign currency with just a few clicks.
Whether you’re a traveler, online shopper, remittance sender, or forex trader, this tool helps you stay updated and make informed decisions with accurate, daily rates.
💱 Currency to Naira Converter
1. How Much Is $100 in Naira Today? (Black Market Rate)
Want to know how much ₦100 dollars is in Nigeria today? Use this reliable currency converter to check the current Dollar to Naira black market rate and see exactly how much you’ll receive. Stay ahead of the market with accurate daily updates for smarter financial decisions.
2. Naira to Dollar Today – Convert Nigerian Naira to Foreign Currencies
Need to convert Naira to Dollars, Pounds, or Euros? Our real-time converter gives you the latest Naira exchange rate across black market and official CBN sources. Whether you're sending money abroad or pricing imports, this tool keeps your transactions stress-free and precise.
3. Official & Parallel Market Rates – Convert Foreign Currency to Naira
Compare and convert major world currencies to Nigerian Naira using today’s black market (parallel) and CBN rates. From the US Dollar (USD) to the British Pound (GBP), Euro (EUR), and more — get accurate values instantly, anytime.
4. Planning a Trip to Nigeria? Check Dollar to Naira Exchange Rate Her
Travelers and business visitors, stay updated with the most recent Dollar to Naira exchange rates. This converter helps you calculate how much you’ll get at the black market, so you can budget your trip confidently and avoid bad deals at currency booths.
5. Track the Real Value of Your Money in Nigeria – Dollar, Pound, Euro to Naira
Whether you’re monitoring remittance values or trading forex, this converter shows you how much your foreign currency is worth in Nigerian Naira. Choose from multiple currencies and compare official and black market rates — all updated daily for transparency.
💱 Black Market Dollar to Naira Exchange Rate Table – April 22, 2025
Below is a detailed breakdown of how much you’ll get when converting US Dollars to Nigerian Naira at the current black market exchange rate of ₦1,590 per $1:
| Amount (USD) | Equivalent in Naira (₦) |
|---|---|
| $1 USD | ₦1,590 |
| $5 USD | ₦7,950 |
| $10 USD | ₦15,900 |
| $20 USD | ₦31,800 |
| $50 USD | ₦79,500 |
| $100 USD | ₦159,000 |
| $200 USD | ₦318,000 |
| $300 USD | ₦477,000 |
| $400 USD | ₦636,000 |
| $500 USD | ₦795,000 |
| $600 USD | ₦954,000 |
| $800 USD | ₦1,272,000 |
| $1,000 USD | ₦1,590,000 |
| $5,000 USD | ₦7,950,000 |
| $10,000 USD | ₦15,900,000 |
Frequently Asked Questions (FAQ) About Exchange Rates in Nigeria
1. What Is the Black Market Exchange Rate in Nigeria?
The black market exchange rate refers to the unofficial rate at which foreign currencies are bought and sold outside the government-regulated Central Bank of Nigeria (CBN) system. It's typically higher than the official rate and determined by street traders and Bureau de Change (BDC) operators.
2. Why Is the Black Market Rate Higher Than the Official Rate?
The black market rate is influenced by supply and demand. Due to limited access to foreign currency through official channels like banks, individuals and businesses often turn to the parallel market, which drives up the rate.
3. Where Can I Find Today’s Dollar to Naira Exchange Rate?
You can find today's dollar to naira exchange rate right here on our website, updated daily for both black market and CBN rates. We provide buy and sell rates to keep you informed and help with your financial planning.
4. Is It Legal to Buy Foreign Currency from the Black Market?
While common, black market transactions operate outside official financial regulations. The Central Bank of Nigeria advises individuals to use licensed Bureau de Change operators or commercial banks for currency exchanges.
5. Why Does the Naira Keep Falling Against the Dollar?
Several factors contribute to the naira’s depreciation, including inflation, low oil revenue, foreign exchange scarcity, and capital flight. Economic instability and government policies also play significant roles.
6. What’s the Difference Between CBN and Black Market Rates?
CBN rates are the official rates set by the Central Bank of Nigeria, typically used by banks and government institutions. Black market rates, on the other hand, are determined by independent currency traders and often reflect real-time market pressures.
7. Can I Use the Black Market Rate for International Transactions?
No. Most international financial transactions—such as wire transfers, online purchases, or tuition payments—use the official CBN rate. The black market rate is primarily used for cash-based exchanges within Nigeria.
8. What Is Causing Exchange Rate Volatility in Nigeria?
Exchange rate volatility is often caused by economic uncertainty, fluctuating oil prices, changes in government policy, and forex shortages. Speculation and political instability also contribute to sudden changes.
9. How Often Do Exchange Rates Change in Nigeria?
Exchange rates can fluctuate multiple times a day depending on market conditions. That’s why we provide daily updates to reflect the most current rates across all major currencies.
10. Which Currency Has the Highest Exchange Rate Against the Naira?
Historically, currencies like the British Pound (GBP), Euro (EUR), and US Dollar (USD) tend to have the highest value against the naira. However, this can vary slightly depending on the day and the market (CBN vs. black market).
11. Where Can I Exchange Currency Safely in Nigeria?
For safe currency exchanges, use licensed Bureau de Change operators or reputable commercial banks. Avoid street dealers if possible, as rates can vary widely and carry more risk.
12. Why Are There Different Buy and Sell Rates?
The buy rate is the rate at which a dealer will buy foreign currency from you, while the sell rate is the rate they’ll sell it to you. The difference is the dealer’s profit margin.
13. Can I Exchange Cryptocurrency for Naira at the Black Market Rate?
While some informal platforms might allow crypto-to-naira trades using parallel market rates, it’s important to exercise caution and use regulated exchanges to avoid fraud.
14. How Can I Track Naira Exchange Rates Daily?
Bookmark our page and check back daily for real-time updates. You can also subscribe to our newsletter or follow us on social media for alerts on currency changes.
15. What Are the Exchange Rates for Pounds, Euros, and Other Currencies in Nigeria Today?
We update daily exchange rates for a wide range of currencies including GBP, EUR, CAD, AED, CNY, GHS, and XOF. Check the full table above for both black market and CBN rates.
