Naira

Naira Plunges by About 300 Percent Under President Muhammadu Buhari Administration

Published

3 years ago

July 6, 2021

The Nigerian Naira has plunged by about 300 percent against some of its global counterparts under President Muhammadu Buhari.

A check by Investors King revealed that the local currency which was trading at N212.1 to a Euro as of January 2014 is presently being exchanged at N484.06 a Euro by the Central Bank of Nigeria, representing a 282 percent decline.

At the parallel market popularly known as the black market, the Naira is currently trading at N595, about 300 percent decline. See the details below.

Here is Monthly Average Naira Exchange Rates Since 2004

Year	Month	DAS (USD)	IFEM (USD)	BDC (USD)	GB Pounds	EURO	CFA Franc
2004	1	136.08	137.76	147.65	247.93	171.67	0.16
2004	2	135.16	136.44	142.95	252.78	171.09	0.2
2004	3	134.47	134.8	139.92	245.47	164.88	0.25
2004	4	133.51	137.23	138.85	240.26	159.87	0.24
2004	5	133.01	134.81	139.64	237.8	159.75	0.24
2004	6	132.75	133.54	140	242.54	161.53	0.24
2004	7	132.8	134.39	139.84	244.54	162.85	0.25
2004	8	132.83	133.23	140.33	241.61	161.66	0.25
2004	9	132.84	133.77	141.08	237.92	162.06	0.25
2004	10	132.86	133.76	140.54	240.05	165.91	0.25
2004	11	132.87	133.15	140.69	247.14	172.67	0.26
2004	12	132.86	133.14	138.71	256.48	177.95	0.27
2005	1	132.86	133.11	139.8	249.54	174.13	0.27
2005	2	132.85	133.15	139.93	250.51	173.05	0.26
2005	3	132.85	133.09	139.73	254.4	176.26	0.27
2005	4	132.85	133.06	141.77	251.48	171.8	0.26
2005	5	132.82	133.37	141.21	246.4	168.52	0.26
2005	6	132.87	134.35	141.85	241.77	161.67	0.25
2005	7	132.87	135.35	143.94	232.38	160	0.24
2005	8	133.23	135.94	145.82	237.55	162.81	0.25
2005	9	130.81	132.55	145.8	234.2	158.66	0.24
2005	10	130.84	131.09	144.99	228.38	155.75	0.24
2005	11	130.63	130.8	143.94	214.58	144.97	0.23
2005	12	130.29	130.08	141.93	225.33	153.07	0.23
2006	1	130.29	129.93	144.09	227.93	156.43	0.24
2006	2	129.59	129.33	145.47	224.4	153.31	0.23
2006	3	128.7	128.68	148.46	222.72	153.18	0.23
2006	4	128.47	128.58	147.85	224.89	156.24	0.24
2006	5	128.45	128.57	142.33	237.23	162.31	0.25
2006	6	128.45	128.5	136.82	234.41	160.95	0.24
2006	7	128.38	128.43	130.12	234.47	161.29	0.24
2006	8	128.33	128.43	130.46	240.73	162.9	0.25
2006	9	128.29	128.39	130.21	238.67	161.56	0.25
2006	10	128.28	128.42	130.3	238.67	161.56	0.25
2006	11	128.29	128.42	129.82	242.67	155.1	0.25
2006	12	128.29	128.39	129.32	249.37	167.82	0.24
2007	1	128.28	128.37	130.07	248.89	164.87	0.25
2007	2	128.27	128.33	130	248.55	166	0.24
2007	3	128.15	128.25	129.34	247.08	168.02	0.25
2007	4	127.98	128.25	129	252.28	171.45	0.26
2007	5	127.56	127.62	129.16	237.23	162.31	0.25
2007	6	127.41	127.5	128.33	250.57	169.31	0.26
2007	7	127.19	127.2	127.52	256.13	172.92	0.26
2007	8	126.68	126.57	127.43	251.87	170.71	0.26
2007	9	126.03	125.74	126.5	251.85	170.69	0.26
2007	10	124.28	123.56	126.5	251.97	175.36	0.27
2007	11	120.51	119.45	123.8	242.73	173.4	0.26
2007	12	118.21	118.11	121.07	236.79	170.61	0.26
2008	1	117.98	117.72	120.8	230.09	171.88	0.26
2008	2	118.21	117.5	119.57	229.26	172.3	0.26
2008	3	117.92	116.79	119	240.26	181.11	0.27
2008	4	117.87	117.47	118.95	231.24	183.74	0.28
2008	5	117.83	117.79	118.8	229.2	181.52	0.28
2008	6	117.81	117.74	118.7	229.18	181.45	0.27
2008	7	117.77	117.71	119	231.94	183.95	0.28
2008	8	117.74	117.69	119	220.26	174.61	0.27
2008	9	117.73	117.62	119	208.09	169.13	0.26
2008	10	117.72	117.72	119	196.9	154.82	0.24
2008	11	117.74	117.88	119.1	179.07	148.53	0.23
2008	12	126.48	134.33	137.65	192	174.72	0.26
2009	1	145.78	146.59	149.88	206.19	189.34	0.29
2009	2	147.14	149.12	156.93	210.17	186.48	0.28
2009	3	147.72	0	174.32	207.92	191.33	0.29
2009	4	147.23	0	180.27	214.27	192.23	0.29
2009	5	147.84		180.63	225.42	199.6	0.3
2009	6	148.2	148.54	166.14	239.91	205.65	0.31
2009	7	148.59	149.88	155.13	240.66	207.36	0.32
2009	8	151.86	155.23	158.95	248.6	214.48	0.36
2009	9	152.3	153.25	158	247.02	219.02	0.33
2009	10	149.36	150.22	153.05	239.53	219.35	0.33
2009	11	150.85	151.03	152.95	248.34	223.07	0.34
2009	12	149.69	149.8	153.48	240.98	216.82	0.33
2010	1	149.78	150.33	153.55	239.96	211.72	0.32
2010	2	150.22	150.97	152.08	232.66	203.67	0.31
2010	3	149.83	150.08	151.85	223.26	201.38	0.31
2010	4	149.89	150.38	152	217.36	186.52	0.28
2010	5	150.31	151.49	153.26	219.42	186.52	0.28
2010	6	150.19	151.27	153.87	219.42	181.65	0.28
2010	7	150.1	150.27	152.41	227.02	189.83	0.29
2010	8	150.27	150.7	152.23	232.94	191.9	0.29
2010	9	151.03	152.62	153.85	232.86	195.91	0.3
2010	10	151.25	151.78	153.98	237.51	208.34	0.32
2010	11	150.22	150.55	153.13	237.62	203.64	0.31
2010	12	150.48	152.63	154.57	232.78	197.27	0.3
2011	1	151.62	152.57	156.08	236.92	200.57	0.3
2011	2	151.96	152.75	155.11	242.81	205.58	0.31
2011	3	152.54	155.21	157.09	243.95	211.17	0.32
2011	4	153.92	154.6	157.05	249.16	220.08	0.33
2011	5	154.8	156.17	158.05	250.11	219.66	0.33
2011	6	154.46	155.66	158.32	248.14	220.22	0.34
2011	7	151.82	152.6	163.71	242.51	216.08	0.33
2011	8	152.72	152.36	163.14	247.53	216.79	0.33
2011	9	155.26	156.7	158.26	224.88	211.73	0.32
2011	10	153.26	159.82	161.32	239.15	208.22	0.32
2011	11	155.71	158.76	160.35	243.45	208.78	0.32
2011	12	158.23	162.27	163.35	244.53	206.52	0.31
2012	1	158.38	161.31	164.62	243.27	202.52	0.31
2012	2	157.87	158.59	160.85	246.98	206.71	0.31
2012	3	157.59	157.72	159.41	246.92	206.05	0.31
2012	4	157.33	157.44	159.37	249.34	205	0.31
2012	5	157.28	157.46	159.67	248.03	199.42	0.3
2012	6	157.44	162.33	163.43	242.42	193.92	0.3
2012	7	157.43	161.33	163.32	243.06	191.56	0.29
2012	8	157.38	158.97	162.24	244.87	193.28	0.29
2012	9	157.34	157.78	159.8	250.86	200.27	0.3
2012	10	157.31	157.24	159	250.45	202.21	0.31
2012	11	157.31	157.58	159.32	248.69	199.91	0.3
2012	12	157.32	157.33	159.26	251.56	204.3	0.31
2013	1	157.3	156.96	159.12	248.72	206.97	0.31
2013	2	157.3	157.52	158.7	241.1	208.16	0.32
2013	3	157.31	158.63	160	234.75	201.95	0.31
2013	4	157.31	158.2	159.81	238.49	202.88	0.31
2013	5	157.3	158.02	159.57	238.34	202.34	0.31
2013	6	157.31	160.02	160.98	241.11	205.47	0.31
2013	7	157.32	161.12	162.43	235.64	203.12	0.3
2013	8	157.31	161.15	162.28	241.35	207.23	0.31
2013	9	157.32	161.96	163.14	251.43	210.2	0.32
2013	10	157.42	159.83	165	250.86	212.74	0.32
2013	11	157.27	158.79	167.14	250.76	210.17	0.32
2013	12	157.27	159.05	171.4	255.13	213.41	0.32
2014	1	157.29	160.23	171.71	256.59	212.1	0.32
2014	2	157.31	163.62	169.45	257.81	212.72	0.32
2014	3	157.3	164.61	171.5	258.95	215.39	0.33
2014	4	157.29	162.19	170.25	260.67	215.14	0.33
2014	5	157.29	161.86	166.85	262.41	213.98	0.33
2014	6	157.29	162.82	167.17	263.29	211.68	0.32
2014	7	157.29	162.25	167.71	265.93	211.24	0.32
2014	8	157.29	161.99	170.36	260.12	207.41	0.32
2014	9	157.3	162.93	168.64	254.06	201	0.31
2014	10	157.31	164.64	169.43	250.27	197.63	0.3
2014	11	160	171.1	175.85	249.96	197.6	0.3
2014	12	169.68	180.33	188.45	262.86	207.16	0.32
2015	1	169.68	181.78	196.13	254.39	194.85	0.3
2015	2	169.68	194.48	213.03	274.79	204.78	0.31
2015	3		197.07	222.93	295.6	213.74	0.32
2015	4		197	210.7	294.24	212.11	0.32
2015	5		197	219.55	304.79	219.85	0.34
2015	6		196.92	218.98	306.06	220.84	0.34
2015	7		196.97	237.15	306.41	216.87	0.33
2015	8		197	216.64	307.21	219.33	0.33
2015	9		197	222.68	302.55	221.22	0.34
2015	10		196.99	224.83	302.26	221.45	0.34
2015	11		196.99	232.4	299.38	211.53	0.32
2015	12		196.99	258.3	295.39	214	0.32
2016	1		197	289.78	283.62	214.09	0.33
2016	2		197	329.83	281.79	218.55	0.33
2016	3		197	320.93	280.4	218.89	0.33
2016	4		197	320.71	282.07	223.46	0.34
2016	5		197	336.93	286.33	222.85	0.34
2016	6		231.76	351.82	328.53	260.03	0.38
2016	7		294.57	364.47	388.37	325.9	0.49
2016	8		309.73	396.15	406.13	347.33	0.53
2016	9		305.23	431.1	401.08	342.17	0.52
2016	10		305.21	462.03	375.71	336.21	0.51
2016	11		305.18	415.36	379.49	329.84	0.5
2016	12		305.22	455.26	381.39	322.13	0.47
2017	1		305.2	493.29	376.32	324.37	0.49
2017	2		305.31	494.7	381.17	324.95	0.5
2017	3		306.4	429.48	378.13	327.35	0.5
2017	4		306.05	392.89	386.92	328.15	0.5
2017	5		305.54	384.48	395.04	337.72	0.51
2017	6		305.72	366.25	391.57	343.24	0.52
2017	7		305.86	365.38	397.36	358.5	0.54
2017	8		305.67	365.57	396.08	360.93	0.55
2017	9		305.89	365.55	408.57	364.53	0.56
2017	10		305.62	362.21	403.25	359.34	0.55
2017	11		305.9	362.41	404.45	359.07	0.54
2017	12		306.31	362.83	410.48	362.36	0.55
2018	1		305.78	363.2	422.35	373	0.57
2018	2		305.9	362.48	427.4	377.84	0.58
2018	3		305.74	362.07	427.26	377.19	0.57
2018	4		305.61	362.25	428.38	374.22	0.57
2018	5		305.83	362.86	412.23	361.67	0.55
2018	6		305.87	360.66	406.64	357.48	0.54
2018	7		305.81	359.36	402.76	357.4	0.54
2018	8		306.06	359	394.24	353.54	0.54
2018	9		306.27	362.86	399.86	357.14	0.54
2018	10		306.5	360.74	398.86	351.87	0.54
2018	11		306.71	362.82	395.87	348.61	0.53
2018	12		306.92	363.46	389.4	349.54	0.53
2019	1		306.85	360.94	395.53	350.45	0.53
2019	2		306.77	359.76	399.02	348.31	0.53
2019	3		306.92	359.24	404.28	347.07	0.53
2019	4		306.96	359	400.18	344.95	0.53
2019	5		306.95	359.75	393.98	343.34	0.52
2019	6		306.95	359.94	388.93	346.91	0.53
2019	7		306.94	359.43	382.8	344.29	0.53
2019	8		306.93	359	373.26	341.31	0.52
2019	9		306.92	359	376.06	337.81	0.51
2019	10		306.96	359	388.43	339.59	0.52
2019	11		306.95	359	395.63	339.3	0.52
2019	12		306.95	360.25	402.83	341.19	0.52
2020	1		306.96	361	401.22	340.77	0.52
2020	2		306.96	359	397.96	334.79	0.5
2020	3		326.63	376.89	403.79	361.02	0.52
2020	4		361	420.15	447,92	392.12	0.51
2020	5		361	443.89	443.96	393.42	0.51
2020	6		361	447.71	452.17	406.38	0.53
2020	7		377.19	464.71	476.54	431.27	0.53
2020	8		381	473.48	500.38	450.7	0.66
2020	9		381	453.68	494.18	449.35	0.68
2020	10		381	459.5	494.71	448.82	0.68
2020	11		381	472.74	503.49	451.09	0.68
2020	12		381	471.62	511.67	463.54	0.7
2021	1		381	472.4	519.7	463.84	0.71
2021	2		381	476.05	528.05	460.96	0.7
2021	3		381	481.21	528.05	453.51	0.69
2021	4		381	481.6	527.48	456.43	0.69
2021	5		397.75	482.82	561.26	484.06	0.72

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Samed Olukoya

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Naira

Black Market Dollar to Naira Exchange Rate Today 6th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 6th, 2024 stood at 1 USD to ₦1,420.

Published

6 hours ago

May 6, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 6th, 2024 stood at 1 USD to ₦1,420.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,400 and sold it at ₦1,390 on Saturday, May 4th, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,420
Selling Rate: ₦1,410

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Naira

Dollar to Naira Black Market Exchange Rate Today 4th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 4th, 2024 stood at 1 USD to ₦1,400.

Published

2 days ago

May 4, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 4th, 2024 stood at 1 USD to ₦1,400.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,380 and sold it at ₦1,370 on Friday, May 3rd, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,400
Selling Rate: ₦1,390

Naira

Black Market Dollar Rate Reaches ₦1,380 Today, May 3rd, 2024

US dollar to Nigerian Naira exchange rate as of May 3rd, 2024 at the black market stood at 1 USD to ₦1,380

Published

4 days ago

May 3, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 3rd, 2024 stood at 1 USD to ₦1,380.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,350 and sold it at ₦1,340 on Thursday, May 2nd, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.