The Dollar to Naira exchange rate remains a critical indicator of Nigeria’s economic landscape, reflecting persistent challenges in the country’s foreign exchange market.
As of January 20th, 2025, the black market dollar to naira exchange rate is NGN1,694.54. This shows how the Nigerian naira has been depreciated in the AbokiFX since January 11th, 2025, when it was selling at NGN 1,686.93.
AbokiFX exchange rate today
$1 | NGN1,694.54 |
$10 | NGN 16,945.4 |
$20 | NGN 33,890.8 |
$50 | NGN 84,727 |
$100 | NGN 169,454 |
$200 | NGN 338.908 |
The price range between Naira-to-dollar official rate (bank rate) and black market (AbokiFX) dollar rates continues to rise. The rapid increase in the AbokiFX is influenced by some factors.
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The black market exchange rate is almost always higher than the bank rate. As of today, January 20th, 2025, the Naira-to-dollar black market rate is NGN1,694.54.
How much is Dollar to Naira official rate today?
However, the official exchange rate, which is also known as the bank rate of dollar to naira, tells a different story. The bank rate was NGN 1542.03 per 1 dollar on January 11th, 2025, while the dollar to naira bank rate is currently selling at the rate of NGN 1546.72 per dollar as of today, January 20th, 2025.
We can see a depreciation of the Naira against the dollar in both official exchange rate and AbokiFX rate.
The official rate is according to the data provided on the Central Bank of Nigeria website.
