The Dollar to Naira exchange rate remains a hot topic for Nigerians, especially as the Naira continues to fluctuate against the US Dollar. Whether you are a business owner, traveler, or investor, staying updated on the Dollar to Naira Bank rate today, as well as the black market exchange rate, is crucial.
In this blog post, we will provide the latest exchange rates, including the official rate, bank rate, and black market (Aboki) rate, while also comparing Dollar to Naira yesterday to see the trend.
Latest Dollar to Naira Exchange Rates (March 13, 2025)
Here are the latest exchange rates across different forex markets in Nigeria:
1. Official Exchange Rate (CBN & NAFEX)
The Central Bank of Nigeria (CBN) regulates the official exchange rate, while the NAFEX (Nigerian Autonomous Foreign Exchange) rate serves as the benchmark for financial institutions.
- CBN Official Rate: ₦1,530.09 per USD
- NAFEX Rate: ₦1,531.00 per USD
| Market | Exchange Rate (₦/USD) |
|---|---|
| CBN Official Rate | ₦1,530.09 |
| NAFEX (FMDQ) Rate | ₦1,531.00 |
2. Black Market (Aboki Dollar to Naira Today Black Market)
The black market, also known as the Aboki exchange market, operates outside government regulations. Many Nigerians rely on it due to easier access and faster transactions.
- Buying Rate: ₦1,570 per USD
- Selling Rate: ₦1,580 per USD
| Market | Buying Rate (₦/USD) | Selling Rate (₦/USD) |
|---|---|---|
| Aboki Dollar to Naira Today (Black Market) | ₦1,570 | ₦1,580 |
3. Dollar to Naira Bank Rate Today
Banks offer different rates compared to the CBN and black market. If you are making foreign transactions via banks, here’s the latest rate:
- First Bank Exchange Rate: ₦1,505 per USD
| Bank | Exchange Rate (₦/USD) |
|---|---|
| First Bank | ₦1,505 |
Dollar to Naira Yesterday – Exchange Rate Comparison
How does today’s exchange rate compare to Dollar to Naira yesterday? Let’s look at the trend:
| Date | CBN Rate (₦/USD) | Black Market Rate (₦/USD) |
|---|---|---|
| March 12, 2025 | ₦1,531.91 | ₦1,575 / ₦1,580 |
| March 11, 2025 | ₦1,561.67 | ₦1,590 / ₦1,595 |
From this comparison, we can see that the Naira slightly appreciated in the black market, while the CBN rate remained stable.
100 Dollar to Naira – How Much is $100 in Naira?
Many people are also asking: How much is 100 Dollar to Naira today? Based on today’s rates:
- Official Rate: $100 = ₦153,609
- Black Market Rate: $100 = ₦158,000
- Bank Rate: $100 = ₦150,500
| Market | 100 USD to NGN |
|---|---|
| Official Rate | ₦153,609 |
| Black Market | ₦158,000 |
| Bank Rate | ₦150,500 |
One Dollar to Naira Today Black Market – Latest Rate
For those looking for one dollar to Naira today black market, here’s the latest update:
- 1 USD = ₦1,580 (Selling Rate)
- 1 USD = ₦1,570 (Buying Rate)
This means that if you are exchanging $1,000, you would get ₦1,580,000 at the current black market rate.
What is Affecting the Dollar to Naira Exchange Rate?
Several factors contribute to the fluctuation of the Naira against the Dollar:
- Forex Scarcity: There is limited access to Dollars in the official market.
- Inflation: Rising inflation weakens the purchasing power of the Naira.
- Foreign Investments: A lack of foreign direct investment (FDI) reduces dollar inflow.
- Oil Prices: Since Nigeria depends on oil exports, fluctuations in crude oil prices impact forex reserves.
- CBN Policies: Government regulations and forex interventions influence exchange rates.
How to Get the Best Exchange Rate?
To avoid losing money due to exchange rate fluctuations, consider these tips:
- Monitor Rates Daily – Stay updated on the latest forex rates before making transactions.
- Use Official Channels – Conduct transactions through banks and licensed forex dealers.
- Avoid Black Market Risks – Be cautious when dealing with the parallel market to avoid fraud.
Conclusion
The Dollar to Naira exchange rate remains unstable, with the black market rate significantly higher than the official and bank rates. Whether you are checking the Dollar to Naira Bank rate today, looking up Aboki dollar to Naira today black market, or converting 100 Dollar to Naira, staying informed about the latest exchange rates is crucial.
As the Nigerian economy continues to navigate challenges, the value of the Naira against the Dollar will remain a topic of discussion. The fluctuations in the One Dollar to Naira today black market show that demand for foreign currency remains high, while supply struggles to keep up.
With the CBN rate at ₦1,536.09, the black market rate at ₦1,580, and the First Bank rate at ₦1,505 per USD, it is essential for businesses, travelers, and investors to carefully plan their forex transactions to minimize losses.
Final Thoughts
- If you are looking for the best exchange rate, compare Dollar to Naira Bank rate today with the black market and NAFEX rates.
- Keep an eye on forex trends by checking the Dollar to Naira yesterday to understand how the Naira is performing over time.
- Whether exchanging 100 Dollar to Naira or higher amounts, ensure you use a trusted exchange source to avoid fraud.
- If using the black market (Aboki dollar to Naira today black market), be aware of potential risks and fluctuating rates.
As exchange rates continue to shift, staying updated will help you make informed financial decisions. Would you like to receive daily updates on Dollar to Naira exchange rates? Let us know in the comments!
