Dollar to Naira rate today: 4 Websites where you can get daily update

The naira to dollar exchange rate is the rate at which the Nigerian naira (NGN) can be exchanged for the United States dollar (USD). It is determined by the forces of supply and demand in the foreign exchange market.

The value of the naira relative to the dollar has fluctuated significantly over the years. In the early 2000s, the naira was worth around 100 to the dollar. However, it depreciated rapidly in the following years, reaching a low of around ₦1,414.94 per dollar on the 31st of Jan. 2024.

There are a number of factors that affect the naira to dollar exchange rate, including:

• The price of oil: Nigeria is a major oil exporter, and the price of oil has a significant impact on the country’s economy. When the price of oil is high, the naira tends to appreciate against the dollar. Conversely, when the price of oil is low, the naira tends to depreciate.
• Interest rates: The Central Bank of Nigeria (CBN) sets the interest rate, which is the cost of borrowing money. When interest rates are high, it becomes more expensive for businesses to borrow money, which can lead to a decrease in economic activity and a depreciation of the naira. Conversely, when interest rates are low, it becomes cheaper for businesses to borrow money, which can lead to an increase in economic activity and an appreciation of the naira.
• Inflation: Inflation is the rate at which the prices of goods and services increase over time. When inflation is high, it can lead to a decrease in the value of the naira, as people are able to buy less with the same amount of money. Conversely, when inflation is low, it can lead to an increase in the value of the naira, as people are able to buy more with the same amount of money.

The naira to dollar exchange rate is an important indicator of the health of the Nigerian economy. A strong naira can help to boost economic growth and make it easier for businesses to import goods and services. A weak naira can make it more difficult for businesses to import goods and services, and can lead to higher prices for consumers.

Here are 4 Websites where you can get daily update about Dollar to Naira rate in both the official market and black market

1. AbokiFX

Keep track and analyze Dollar to Naira currency exchange rates from all the commonly used sources and markets in Nigeria using the AbokiFX. On this website, you can access the most recent daily data on Naira currency exchange rates from various sources including the Lagos Parallel Market, Nationwide black market rate (Bureau De Change (BDC), the CBN official market rate – Foreign Exchange Market (FX Market), including the rate by various banks operating in Nigeria such as GTBank, UBA, Zenith Bank, Sterling Bank, Wema Bank, Access Bank, First Bank of Nigeria, Ecobank, FCMB, among others.

You can also access the most recent daily data on Cryptocurrency (Bitcoin, Ethereum, Binance Coin, Cardano, Solana, XRP, Polkadot, Dogecoin, Avalanche, Chainlink, etc) exchange rates from various sources in contrast to Fiat currency.

2. NgnRates – Dollar to Naira

Keep track and analyze the Nigerian Naira (NGN) currency exchange rates from all the commonly used sources and markets in Nigeria using the NgnRates.com app. With this app, you can access the most recent daily data on Naira currency exchange rates from various sources including the Lagos Parallel Market, the Central Bank of Nigeria (CBN), and banks operating in Nigeria such as GTBank, UBA, Zenith Bank, Sterling Bank, Wema Bank, Access Bank, First Bank of Nigeria, Ecobank, FCMB, among others. Additionally, you can also obtain data from Bureau De Change (BDC) and the Foreign Exchange Market (FX Market).

See reviews:

“A place to know the foreign currency rate compared to your local currency. Nut dont trust anyone there until you meet personally”

3. ₦aira Rates

Twitter Handle 312.9K Followers – Unofficial daily Naira exchange rates  Dollar • Pound • Sourced from Open Source APIs

If you on X formally Twitter, you can get daily naira to dollar rate update. All you need to do is follow their account on X and turn on notifications to keep updated.

4. Aboki Forex

On Abokiforex.app website, you can access the most recent daily data on Naira currency exchange rates from various sources including the Lagos Parallel Market, black market rate (Bureau De Change (BDC), the CBN official market rate – Foreign Exchange Market (FX Market), daily data on Cryptocurrency (Bitcoin, Ethereum, Binance Coin, Cardano, Solana, XRP, Polkadot, Dogecoin, Avalanche, Chainlink, etc) exchange rates from various sources in contrast to Fiat currency.