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DOLLAR TO NAIRA EXCHANGE RATE TODAY BLACK MARKET { July 2017 }

How Much Is Dollar To Naira Exchange Rate Today Black Market { Updated Daily }

The Naira to Dollar exchange rate though pegged at an official rate of N305 per $1 had been at what could be described as freefall in the black market.

Though in recent days it has been fluctuating, currently at a rate of

  • N363 – buy per $ 1

  • N366 – sell per $ 1

This rate isn’t encouraging, in fact, many Nigerians now spend more buying less, an act that shouldn’t be. I would be highlighting below reasons why it is so. To check this page for any changes in the dollar rate, save or bookmark the link below

Save this page URL – NaijaQuest.Com/Dollars

dollar to naira exchange rate today black market

Dollar to Naira Exchange Rate Today Black Market

Some Major Reasons For High Dollar To Naira Exchange Rate Today Black Market

IMPORTATION IS ON THE HIGH SIDE

Nigeria as a country imports more than it export, which shouldn’t be so. The ridiculous part of the whole scenario is we bring in things like pampers and toothpick making us more of a consumer country rather a producing one. You may think there is nothing wrong with this but a closer look into our economy would show you that we are strengthening the dollars against the Naira since most international transactions are in dollars. We need to become a producing country so we could have more to export aside oil.

NIGERIANS OBSESSION FOR FOREIGN PRODUCT

In Nigeria, make a quality product and label it ‘made in Nigeria,’ and you would see a low level of patronage. In the other way round, make an inferior product and label it made in US, Italy, Japan or even China and you would see how it would be rushed. This obsession with foreign goods had made our importers import more exchanging our Naira for the dollars which have decreased the value of Naira.

This obsession had even gone to another level that we now prefer services rendered by persons from foreign countries who would demand to payment in their currency rather than our own. Nigerians fly out to study outside the country and go for other services like medication, conferences, seminars, etc. It would be better if we can strike a balance in this. There is a recent campaign in Nigeria which is the ‘buy 9ja to grow the Naira,’ many people had no yet accepted it.

LOOTING OF PUBLIC FUND

public officers who are supposed to be custodians of our collective wealth had turned around to become the ones looting it. When they loot, they change this money into the dollar and stock them in foreign accounts, this had been the major source of Naira devaluation.

FALL IN OIL PRICE

It is no news that Nigeria demands largely on oil exports for its revenue and it is also no news that this oil has lost value in the world market in recent years due to various reasons. This had led to a reduction in our revenue which had also affected the Naira. If only we can diversify to grow the Naira.

GOVERNMENTAL POLICIES

The policies have been made by the Government had been a reason to. Just recently, there had been an outcry from some quarters that the Government had technical devalued the Naira, an allegation that the Government denied. Either way, many foreign investors had lost trust in the economy and had refused to invest. This among other reason had been the reason Naira is depreciating against the dollar.

In conclusion to How Much Dollar To Naira Exchange Rate Today Black Market , I would like both the citizens and the Government to give a helping hand to the Naira before it becomes an object of ridicule like the Zimbabwe currency.

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Updated: July 20, 2017 — 7:03 pm

91 Comments

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  1. I like this sits

    1. you are welcome Boss Blessing

  2. pls can you do a compilation of the black market rates from 2014 till date?

  3. hello please can i get the rates fro 2014 till date

  4. for the most up to date and realistic black market Exchange rates

    1. Yes, i am interested

  5. Pls can you give us current black market exchange for the month os September 2016

    1. Hello Karim what you have above in the post is the current exchange rate as of today that am replying you. We try our best to update this post with the latest parallel / blackmarket rate

    2. how much is a dollar to the naria

      1. Hello Chidubem
        The current rate is what you have in the post above. Thanks

  6. 16years the naira go to usd 1$ from 120 to 160 naira ,but this only one year naira gos to 425 for 1$ ,can someone explains please what is happening here

    1. We need to start working individually and as a group to make Nigeria Great, then we can dream of one naira to one dollar

  7. Seems the dollar is just going high and low with out control. Na wa for naija. I had to order for a Dollar Mastercard to safe myself from all this non regulated charges naijatec.blogspot com

  8. yea,it’s cool and even better off if it can get
    higher than this coz it’s helps hand working fingers pls help us tell the NIGERIAN GOVERNMENT to work on that…GOD bless hard working niggaz and hard working fingerz…

    1. u bi kkkk, ur country they fall u they happy..

  9. True talk but who is going to put some sense in the government because, obviously it shows that they can’t read or think right because they think with there ass not the brain. i think the best way is to take them to a surgical room and fix this things to there brain..

  10. how much is dollar in nigeria

    1. Hi Oladele Busola
      The current dollar to naira rate is what you have in the post above, { the quoted part }. The rate in the post is always updated to reflect the current parallel / black market exchange rate.
      Thanks

  11. Very sad that naira exchange rates keep depreciating by the day

  12. OLADIPUPO ROTIMI

    Please i need updates on rate of dollar to naira.

    1. The current rate is stated in the post quoted and in orange colour. Daily updated .
      Thanks

  13. tell this to the president . he is doing bullshit

  14. When u hv an kkkkkk for a president and an kkkkk as finance minister .. what do u expect? Businessmen are crying and yahoo bo ys are still blowing hard currencies lyk kkkk recession .. so much for fighting corruption

  15. Talk,talk. tell us something new.tell us way forward in the current situation.do not say ‘Nigerians like foreign pampers’.what about u? say u like foreign things. who are “Nigerians”?u r telling us copy&paste theories. How many things are you yourself manufacturing and exporting? can ur product meet up with standard. when NEPA takes light while your quality control staff is in d lab, what kind of result do you think the whites expect from a lab without common NEPA light.dont blame Nigerians for liking foreign things.blame yourself.afterall what ssl,CMS, hosting provider are you using for this website? did u not see web4africa hosting providers? my people,first things first, abok should provide light and road, eliminate multiple taxation and provide access to loans for startups. I trust Nigerians we know what to do next.who said we dont like earning money in dollars (through export).abi my pips? no country can sustain manufacturing, research etc without constant light. period.

    1. Yeah, you are right on the point that every single Nigerian has to contribute his/her part in the growth of Nigeria

    2. I love ur comment, you be correct bussiness mogul

    3. THAT IS GOSPEL TRUTH….

  16. Business mogul, I love ur comment, if government really ready to diversify our economy they should start from this ur points. Thanks

  17. I want daily update of the black market rate of Euros.

    1. The rate in the post are updated in response to to increase or deduction in market rate.

  18. Is it decreasing?

  19. Question:How much will I get if I exchange 200 USD to Naira through Black market? Is it 407 Naira per 1 USD?

    Also if I do it through Black Market and exchange to Naira, I could go back to the bank and exchange it back to USD for more money, is that true?

    I don’t know if my question makes sense, but I’m kinda confused with how it worKS, you answer is appreciated:)

    1. The current exchange rate at of today at the parallel market is 460. So if you have $200 multiply by 460 will give you 92,000naira. Regarding your question about recycling the naira back to dollar by going to change it in the bank. No bank in Nigeria will give you dollar. Its left for you to use your head and find your own little secrete. Enjoy……..!!!

    2. Banks doesn’t sell dollars nor back up payment in dollars by Naira anymore, but they will buy dollars from you at Central Bank Rates,

      in the past when the Central bank was backing up dollar payment from Naira account, the Banks were charging their customers the Black MARKET RATES and not the Central bank rate,

  20. Send me emails on dollar rate for black market

  21. I hope one our writers will be more objective than this. Toothpicks and toothpastes are not our problem. The major problem is the importation of refined crude. This forces the dollar up and the naira down on demand and supply. Natural scarcity and artificial scarcity for dollar.
    Poor economic policies on cheap political gains. There are close local made substitutes for commodities imported to this country but the economic policies are not favourable to them strive in the economy. Why? The differal margin is slim and there by encourage more imports as a result the call for Usd increases and value ups.
    The market force in NGR is fuelled on the cost on transportation.
    These two exchange rate and cost of transportation. Implementing a policy to fix the cause for importing refined crude will ease the economy both internationally and locally.
    When this problem is fixed the inflation will rate drop and stable.

  22. AKPO, NWIIBARI B.M.

    Send me emails on dollar rate for black market.

  23. Send me emails on dollar rate for black and official market.

  24. how much is currently dollar in nigeria at the market now pls let me know thanks

    1. Hello Segun,
      sent to your mobile, also know that the current dollar to naira parallel market rate is always update with the post above every time it changes, so you can bookmark this page url to for updated rates ” naijaquest.com/dollars ”
      thanks

  25. pls. send me rate of dollar to naira daly , my email below

  26. pls. send me rate of dollar to naira dally

    1. Hello Abdullahi Akanbi,
      We are actively working towards that, so please be patient with, we surely notify you when that service is ready

  27. How much is $ rate to NGN today ?

    1. Check within the post for day for today s rate

  28. Please how much is euro today @blackmarket? Good morning!

    1. Good Morning Casefile
      check within the post above for the rate, its updated daily

  29. how much is 1 dollar to naira today

  30. I have some dollar my sister sent from US. Anybody interested? About 2000dollars and I am selling at 460/dollar. D bizness guy i sell to has traveled to China. if interested drop your contact. Fraudsters stay off.. or else..

  31. how can i exchange dollars on black market rate from USA

  32. Ruru please am interested, 08035547233

  33. please what is dollar rate today

  34. Oh well, I feel so glad to come across this website, I love the fact it’s been updated every day! Thanks for the good job admin. Meanwhile i have a suggestion to what you wrote in this article on here… since Nigeria is yet to come together and produce numerous goods which they can be exporting to those foreign countries especially the America herself, maybe we should encourage our yahoo boys to keep chatting those white people and get them to sending plenty foreign currency into our country. I think that will also devalue the $$ somehow. It’s just a suggestion since a most young guys don’t even have the minimum capital to start up an exportation business, I think there stories and conversations with the foreigners should fetch them income since that’s the service they can render to the foreigners now. Never mind me, just being silly. Lol

    1. Hello Osmoy
      Such should never be encouraged, there are 100 plus needed services that Jobless Nigerian can take advantage of, online. Most youth just need the right guide and education.

  35. Hi, I did like you to send me daily Naira to US dollar and Naira to Aus dollar exchange rate daily.

    Thanks

    1. Hello Inyang, working on that, we would get across to you

  36. As far as Nigeria is concerned, it is only God who can stop what is happening in this country. He either comes by destroying this country or killing all the people who are behind our sufferings like He did in Egypt.

  37. Nice share!

  38. I need constant updates

    1. Working on that

  39. please what is the exchange rate for dollar to naira now

    1. Hello Chichi
      The current dollar to naira is what you have in the post above , it is updated daily

  40. Ubong Robson Johnson

    This is good

  41. Thanks for sharing these rates

  42. Answer Onyekachi Azuoma

    This site is lovely

  43. This is a good practise, thanks. I Miss the days of 1 Naira = 1 Dollar.

  44. This is simple theory when a nation can’t produce for exportation,how can it earn foreign currency? It is basically impossible. This is the bottomline, the nation wants to earn foreign currency but the infrastructure has kept her from performing the necessary functions that will lead her in earning foreign currency. The government structure will help in this aspect by putting all necessary infrastructure in place. like the power sector and to look for alternative energy that will help the country’s power to be boosted. The country’s economy has to be diversified, oil dependency needs to be stopped, focusing on other areas where the country can create avenue to boosts its economy, like mining, agriculture, manfacutring,etc. In consideration, have we looked into our attitudes? Are we patriotic? Many of us we don’t appreciate our local products and the same time the environment is not conducive for locals and foreign investors, more works need to be done on transportation. The country has to develop its road network in order to boost its locals and foreign investors. It has to create more institutions or develop those that it has before to be more effective to handle all necessary sectors. The country’s man power is good and people are ready to work, and getting people to work, the jobs have to be there, though, it is not going to be magical but with continue persistence the nation will achieve its dream to be among the nation to be proud of.

  45. Thanks bro, dollar keeps gaining on the naira in the blackmarket, this is vey serious

  46. Please what is the current naira exchange rate today?

  47. Very very useful too me….Thanks a lot for the update.

  48. Please kindly forward to my email those products that Nigeria often imports.

  49. Thanks for the update

  50. Pls what’s the current rate now?
    And I would want a constant update on my mail pls make that happen thanks

    1. Kindly check the post, the rates are updated daily. We would get back to you on the mail alert

  51. Hi peeps, if I’m to pay 438$ online for some sort of transactions, how much should i expect to be deducted from my account in naira using gt card?

    1. Hello Dollipizle
      Kindly note that, GTB currently, does not allow beyong the maximum of $100 per month on their naira master card.

  52. How much is 1 dollar to Naira today?

    1. Hello Adolphus
      Kindly check within the post above for today’s rate. We update the rate daily. Thanks

  53. Hey,
    Thanks so much for this post! This was really interesting. I’m so fascinated to see the differences between certain countries’ currency. I am glad that you can view this post on mobile. I read everything off of my.
    Best,
    Dennis

  54. Nigerian population is getting too much alongside the definition of what is considered critical. Overpopulation causes too much stress on the economy, agriculture, power, and all resources, which will eventually make it virtually impossible to sustain the nation and its peoples. One day Nigeria will need to apply the same remedy that China did with a “one child per family doctrine”…otherwise there will be chaos.

  55. My bank charges me at the rate of 386.8 naira to dollar.
    Please we need cbn intervention in this matters.
    Our commercial banks are becoming threat to naira values every day.

  56. Thanks very much, i sold my payoneer fund today for $340

  57. There is a reasonable explanation ( if not ,,,”politically correct “)
    ….viz. “All men are created equal” but the evidence is overwhelming that Africans may just somehow be …”less equal”
    Hence – Corruption , confusion , incompetence and rampant violence prevail throughout Africa ….Africa servers the civilized world mainly as a source of raw materials … A reality which is of course not accepted by most Africans .

  58. Nigeria that should be on top is now down in every aspect ,look at our Maria is useless it save for nothing, but we are asserting Nigeria were did this Name Nigeria come from. The origin of Nigeria is were.poor are getting poorer rich are getting rich while like this. Nigeria is not Nigeria I know 10years ago.we need a chenage.

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