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Latest Price of Dollar to Naira Black Market Today in Nigeria – March 21st, 2024

Okay.ng
By Okay.ng
Published: March 21, 2024
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The foreign exchange market in Nigeria is dynamic, with black market rates fluctuating frequently.

Contents
What is the Current Black Market Exchange Rate for Dollar to Naira?What Factors are Influencing the Current Exchange Rates?How does the Black Market Rate Compare to the Official CBN Rate?Where Can I Get the Most Reliable Exchange Rates?

Understanding the latest exchange rates between the Dollar and the Naira is crucial for individuals and businesses alike.

As of March 21st, 2024, let’s delve into the current landscape of black market exchange rates and address common queries.

What is the Current Black Market Exchange Rate for Dollar to Naira?

As of today, March 21st, 2024, the black market rates for exchanging Dollars to Naira are as follows:

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  • Buying Rate: ₦1,500.00
  • Selling Rate: ₦1,540.00

What Factors are Influencing the Current Exchange Rates?

Several factors contribute to the fluctuations in exchange rates, including:

  • Supply and Demand: Recent increases in the availability of dollars have led to a slight appreciation of the Naira.
  • Government Policies: Imposed restrictions on cryptocurrency exchanges may impact the Naira’s value.
  • Market Speculation: Traders’ expectations and speculations play a role in driving exchange rate fluctuations.

How does the Black Market Rate Compare to the Official CBN Rate?

The Central Bank of Nigeria (CBN) offers different rates from the black market. As of today, the CBN rates are:

  • Selling Rate: ₦1,589.581
  • Buying Rate: ₦1,589.581

It’s noteworthy that the black market rate is often higher than the official CBN rate.

Where Can I Get the Most Reliable Exchange Rates?

For the most reliable and up-to-date exchange rates, consider checking with local Bureau De Change operators or reputable financial news websites, like Okay.ng. Keep in mind that rates may vary slightly depending on the location and dealer.

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Dollar/Naira Rates

Dollar to Naira Exchange Rate

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Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

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

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

USD/NGN Converter

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