🚨 Want the BEST Dollar to Naira rates today?
👉 Check the latest official & black market exchange rates for April 21, 2025!.
Where to buy/sell at the best price
As of Monday, April 21, 2025, the exchange rates for the US Dollar to Nigerian Naira vary across different markets. Understanding these rates is crucial for individuals and businesses engaged in foreign exchange transactions.
Official CBN Exchange Rate
The Central Bank of Nigeria (CBN) provides the official exchange rate, which is used for government and official transactions. As per the latest available data:
- Date: April 17, 2025
- Official Rate: ₦1,600.50 per $1
*Note: The CBN updates its rates regularly, and the above rate is subject to change.*
Black Market (Parallel Market) Rates
In the black market, exchange rates are determined by supply and demand dynamics and can differ significantly from the official rates. As of April 19, 2025:
- Buying Rate: ₦1,595 per $1
- Selling Rate: ₦1,610 per $1
Note: Black market rates are unofficial and can vary between different locations and dealers.
Bank Rates
Commercial banks in Nigeria may offer different exchange rates for their customers, often slightly higher than the official CBN rate due to additional charges and market factors. It’s advisable to check with individual banks for their current rates.
First Bank Dollar to Naira Rate (April 21, 2025)
First Bank is exchanging the US Dollar at ₦1,585 per $1 today. This rate applies to transactions done through their banking platforms and may include service charges.
GTBank Dollar to Naira Rate (April 21, 2025)
GTBank’s exchange rate for today stands at ₦1,586 per $1. Customers are advised to check directly with the bank for updates on large transactions.
Grey Wallet Dollar to Naira Rate (April 21, 2025)
Grey Wallet is offering an exchange rate of ₦1,590 per $1 today. This rate is typically used for online currency conversions and wallet transfers.
Exchange Rate Comparison Table
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| CBN Official Rate | N/A | 1,600.50 |
| Black Market | 1,595 | 1,610 |
| Bank Rates | Varies | Varies |
Conclusion
Exchange rates in Nigeria can vary significantly between the official CBN rate, black market rates, and rates offered by commercial banks. Staying informed about these rates is essential for making informed financial decisions.
Please note that exchange rates are subject to change and may vary between different sources and locations.
