Dollar to Naira Today 2018: The exchange rate of the Nigerian naira to major currencies of the world has been stable for the past couple of weeks as at the time of first publishing (January 2018) this article.
An average Nigerian doesn’t really bother him or herself about how much is dollar to naira exchange rate today before purchasing things online with his or her bank’s master card in June 2018. However, to government and business owners either small, medium or large who imports into the country or export outside the country, the current exchange rate of dollar to naira today is very important. Which is what this article is promising.
United States Dollar to Naira 2018: How Much is Exchange Rate of Naira to Dollar.
This write up will be updated frequently to reflect the current trading rate of the US Dollar to Nigerian Naira. You get both the black/parallel market rate and the official/CBN rate.
Buying in this write up mean how much Naira CBN or black market agents will pay you for $1 (1 USD) while Selling means how much you have to pay black market agents or CBN for $1. The selling price is usually higher than the buying price.
Also Read: How Much is Pounds to Naira Today.
CBN Dollar to Naira Exchange Rate Today.
Buying & Selling Price.
- Selling: 306.
- Buying: 305.
How Much is Exchange Rate of Dollar Naira Today Black Market.
Buying & Selling Price.
- Selling: 363.
- Buying: 361.
Banks exchange rate usually falls in between the cbn and black market prices while some times it is exact same with the black market or even higher.
Convert US Dollar to NG Naira.
I created this sub-heading for those that may need instant result of certain amount of dollar to naira or vice versa.
I used the current black market selling exchange rate of usd to ngn for this calculation. You can easily use the same format to calculate for the buying rate.
Also Read: How Much is Euro to Naira Today.
- $1 = 363 Naira.
- $5 = 363 x 5 = 1815 Naira.
- $10 = 363 x 10 = 3630 Naira.
- $15 = 363 x 15 = 5445 Naira.
- $20 = 363 x 20 = 7260 Naira.
- $25 = 363 x 25 = 9075 Naira.
- $30 = 363 x 30 = 10,890 Naira.
- $35 = 363 x 35 = 12,705 Naira.
- $40 = 363 x 40 = 14,520 Naira.
- $45 = 363 x 45 = 16,335 Naira.
- $50 = 363 x 50 = 18,150 Naira.
- $100 = 363 x 100 = 36,300 Naira.
- $150 = 363 x 150 = 54,450 Naira.
- $200 = 363 x 200 = 72,600 Naira.
- $300 = 363 x 300 = 108,900 Naira.
- $400 = 363 x 400 = 145,200 Naira.
- $500 = 363 x 500 = 181,500 Naira.
- $1000 = 363 x 1000 = 363,000 Naira.
- $5000 = 363 x 5000 = 1,815,000 Naira.
- $10,000 = 363 x 10,000 = 3,630,000 Naira.
If reverse is the case, i mean if you are to convert certain amount of naira to dollar, use the rate below.
- $1 = 363 Naira.
- X = 1 Naira.
Cross multiplication will give you X = 1 x 1 / 363.
X = 1 / 363 = 0.00275.
That’s 1 Naira = $0.00275.
So let’s assume you are to convert 1000 Naira to dollar.
- N1000 = 1000 x 0.00275 = $2.75.
- 5000 Naira = 5000 x 0.00275 = $13.75.
- 10,000 Naira = 10,000 x 0.00275 = $27.5.
Disclaimer: Remember that i used black market (aboki) selling rate for this calculation.
The format is the same but the result will differs when you use black market buying rate or cbn (official) rate or various banks mastercard rate.
The United States of America Dollar.
The dollar is the official currency of the United States of America. It has a smaller unit called Cent (¢).
100 Cents = 1 Dollar.
Just like it is between Nigerian Naira and Kobo.
However, some countries also use dollar as their official currency but you should know that it is different from the US dollar.
Examples are Canadian dollar and Australian dollar. Never mistake them for the US dollar as they have different financial/monetary values.
USD is one of the top currencies globally in value. It is the most used currency for international transactions and most traded currency in the foreign exchange market.
It is denoted by $. The S is crossed by 2 strokes in some cases.
As a Nigerian, i assumed you known much about Naira. So i decided it should be left out of this discussion. But i might change my mind in the future about that.
Our next articles will center on different Nigerian banks dollar exchange rate, pounds and euro rate to the Naira. In the mean time, make use of the social sharing buttons to educate more people on current price of dollar to naira today.