By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: $100 to Naira (₦) Black Market Exchange Rates Today – May 11, 2024
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Featured

$100 to Naira (₦) Black Market Exchange Rates Today – May 11, 2024

Okay.ng
By Okay.ng
Published: May 11, 2024
Share
3 Min Read
SHARE

The foreign exchange market is a dynamic and integral part of the global economy, and Nigeria is no exception. With a bustling black market for currency exchange, understanding the conversion rates and the most asked questions about the process is crucial for both locals and foreigners.

Contents
Exchange Rate of $100 to Naira (NGN) at Black MarketDollar to Naira Black Market Exchange Rate Table for Different Denominations:Factors Affecting Black Market Rates for 100 USD to NGN

Here’s an insightful look into the exchange of $100 to Nigerian Naira (NGN) at the black market rate on 11th May 2024.

Exchange Rate of $100 to Naira (NGN) at Black Market

As of 11th May 2024, the black market exchange rate for $100 to Naira is as follows:

Amount in USD ($)Buying Rate (₦)Selling Rate (₦)
100 US Dollars ($100) to Naira₦143,000₦145,000

Please note that these rates are subject to change and can vary slightly depending on the location and the dealer.

- Advertisement -

Dollar to Naira Black Market Exchange Rate Table for Different Denominations:

Here’s a breakdown of the exchange rate for various denominations of Dollars to Nigerian Naira in the black market:

Amount in Dollar ($)Buying Rate (₦)Selling Rate (₦)
1 US Dollar ($1) to Naira₦1,430.00₦1,450.00
5 US Dollars ($5) to Naira₦7,150.00₦7,250.00
10 US Dollars ($10) to Naira₦14,300.00₦14,500.00
20 US Dollars ($20) to Naira₦28,600.00₦29,000.00
50 US Dollars ($50) to Naira₦71,500.00₦72,500.00
100 US Dollars ($100) to Naira₦143,000.00₦145,000.00
200 US Dollars ($200) to Naira₦286,000.00₦290,000.00
300 US Dollars ($300) to Naira₦429,000.00₦435,000.00
400 US Dollars ($400) to Naira₦572,000.00₦580,000.00
500 US Dollars ($500) to Naira₦715,000.00₦725,000.00
600 US Dollars ($600) to Naira₦858,000.00₦870,000.00
800 US Dollars ($800) to Naira₦1,144,000.00₦1,160,000.00
1000 US Dollars ($1000) to Naira₦1,430,000.00₦1,450,000.00
5000 US Dollars ($5000) to Naira₦7,150,000.00₦7,250,000.00
10000 US Dollars ($10000) to Naira₦14,300,000.00₦14,500,000.00

Factors Affecting Black Market Rates for 100 USD to NGN

The black market rates for exchanging 100 US Dollars to Nigerian Naira are influenced by several factors, including:

  1. Demand and supply: The demand for US Dollars in Nigeria, driven by factors such as imports, foreign investments, and personal remittances, affects the parallel market rates. A high demand for USD can lead to an increase in rates.
  2. Economic conditions: Nigeria’s economic performance, including factors like inflation, interest rates, and foreign reserves, can impact the parallel market rates.
  3. Government policies: Regulations and policies related to foreign exchange trading, import/export restrictions, and capital controls can influence the parallel market rates.
  4. Political stability: Political instability or uncertainty can lead to increased demand for US Dollars, driving up the parallel market rates.
Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:DollarNaira
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByOkay.ng
Follow:
Okay.ng launched under OKN MEDIA PUBLISHING (RC Number: 2993580) in the year 2012 is an independent digital news platform with thousands of page views and unique visitors every month
Previous Article Cement Prices in Nigeria Today – Here’s the Latest Update
Next Article Dollar to Naira Wema Bank Dollar to Naira Exchange Rate Today – May 11, 2024

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
Ange Postecoglou
Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory
Sport
Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President
News
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users
Tech
- Advertisement -
Ad imageAd image

You May Also Like

News

President Tinubu and Top Officials Attend Eid-el-Kabir Prayers in Lagos, Emphasize Peace and Progress

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
International

Elon Musk’s Net Worth Plummets $34 Billion Amid Explosive Feud with Donald Trump

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
PoliticsTop stories

BREAKING: Akwa Ibom Governor Pastor Umo Eno Defects from PDP to APC in Strategic Political Shift

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?