Dollar to Naira Exchange Rate Today, Monday, September 13, 2021

Naira plunged to all time low against its global counterparts at the parallel market, known as the black market, despite efforts by the Central Bank of Nigeria to curb further decline of the embattled currency.

The Nigerian Naira exchanged at N550 to a United States Dollar on Monday at the black market, representing an all-time record low against the greenback. Against the British Pound and the Euro common currency, the Naira slid to N750 and N636, respectively.

Africa’s largest economy is enmeshed in low forex liquidity caused by poor economic structure that over the years has limited and weakened the nation’s foreign revenue generation. This weak foreign revenue generation has impeded Nigeria, a largely import dependent economy, from effectively servicing her economy with necessary forex for economic activities.

The inability to service the economy with enough forex coupled with the decision of the Central Bank of Nigeria to halt the sale of forex to Buruea De Change Operators have compounded Nigeria’s forex situation and further disrupted the Naira’s outlook.

Still, the apex bank continues to post its inaccessible official rates as shown in the table below. Despite insisting that exchange rates are stipulated Central Bank of Nigeria’s rates, many Nigerians and businesses operating in the country find it hard or impossible to access forex at the central bank’s rates.

The Central Bank of Nigeria sells U.S Dollar at N410.51, while the British Pound and Euro are sold at N568.1869 and N483.6629, respectively.

Naira Black Market Exchange Rates

Morning * Midday** Evening *** Final Rates

Bureau De Change Naira Rates

Central Bank of Nigeria’s Official Naira Rates

 N.B: These tables are updated three times a day.