Dollar to Naira Exchange Rate Today

US Dollar to Naira Exchange Rate Today

1 Dollar ($1) to Naira at the parallel market today is ₦ 703.00 as of June 2, 2023. At the official CBN rate, 1 Dollar to Naira is ₦ 461.76 as of May 31.

Date Today Rate Source
31.05.23 ₦ 461.76 CBN
31.05.23 ₦ 460.31 FX Market
04.07.22 ₦ 500.00 First Bank
21.07..22 ₦ 490.00 GTB
Not applicable Western Union
02.06.23 ₦ 753.00 Black Market

Also, check out the CBN Naira exchange rates for other currencies here

Find the FX (Forex Market) rate for other currencies here

  • The price of a Dollar to Naira for CBN is ₦ 461.76
  • Dollar FX Market rate is ₦ 460.31
  • The exchange price of USD to Naira is no longer applicable in Western Union, and also no longer applicable in Moneygram
  • The Dollar to Naira bank rate is ₦ 500.00 for First Bank  and GTB is ₦ 490.00
  • US Dollar to Naira rate for Black Market is ₦ 753.00
  • BDC US Dollar price is also suspended for now
  • The rate of Dollar in Moneygram is no longer applicable since December 2020 as shown in the table above

How much is a Dollar to Naira exchange rate today?

A Dollar to Naira exchange rate today is dependent on the market segment one is transacting in.

As can be seen in the table above, 1 USD to Naira price differs in the different segments such as the CBN rate, Bank rate, FX (Forex) market rate, BDC rate, and the black market rate.

Until recently, there were also Dollar to Naira Western Union rate and Dollar to Naira Moneygram rate.

Summary of US Dollar to Nigerian Naira Exchange Rate

The United States Dollar, USD, US Dollar is the commonly used currency for international trade against the Nigerian Naira. The USD rate recently experienced a consistent southward movement that led to the clamping down of Aboki Fx by the CBN over allegations of Currency speculation.

  • Currency Name: US Dollar, USD
  • Issuing Bank: Federal Reserve
  • Currency Symbol[s]: $, US$, U$
  • Country: United States
  • Subunit: Cent, Penny
  • ISO Code: USD
  • Conversion: 1 USD equals 100 cent.
  • Coins: 1¢, 5¢, 10¢, 25¢
  • Banknotes: $1, $5, $10, $20, $50, $100