How much is dollar to naira today?
As of today, the parallel market (black market / aboki) dollar to naira rate sits at around ₦1,395.00, while the CBN official rate is approximately ₦1,379.18. These rates are updated multiple times each day from AbokiForex and the Central Bank of Nigeria's exchange rate API. Since Nigeria's June 2023 unification of the foreign exchange windows, the gap between the two rates has narrowed significantly — today the spread is typically under ₦10 compared to over ₦300 during the multiple-window era under the Buhari administration.
CBN official rate vs parallel market rate — what's the difference?
The CBN official rate is what the Central Bank of Nigeria publishes on cbn.gov.ng for interbank settlements and approved import payments. Banks use it for letter-of-credit transactions, large remittances, and official trade settlements. It moves based on auction outcomes at the Nigerian Foreign Exchange Market (NAFEM).
The parallel market rate (also called the aboki rate or black market rate) is set by Bureau de Change (BDC) operators across Lagos, Abuja, Kano, and Port Harcourt. It's what most Nigerians actually encounter for personal transactions — paying for school fees abroad, settling small business imports, or buying dollars for travel. AbokiForex aggregates these BDC quotes hourly across major cities to produce the rate shown above.
Why does the naira keep depreciating?
The naira's slide against the dollar comes down to four main pressures: declining oil revenue (Nigeria's primary FX earner), persistent import dependence for refined fuel and consumer goods, capital flight from foreign portfolio investors during emerging-market sell-offs, and subsidy and FX reforms introduced by the Tinubu administration in mid-2023 that removed artificial supports. The 2023 unification let the naira find its true market price, causing a one-time devaluation from around ₦460/$ to over ₦1,000/$ before stabilising.
How accurate is this rate?
CBN rates come directly from the CBN exchange rate API (cbn.gov.ng/api), updated daily on Nigerian business days shortly after the central bank publishes them. Parallel market rates come from AbokiForex.app, which sources its numbers from BDC operators in major Nigerian cities and updates them hourly. Both rates are indicative — your actual conversion rate at a specific bank or BDC may vary by ₦2–₦10 depending on transaction size, location, and timing. Always confirm the live rate with your bank before sending large amounts.
Other currencies to naira
Beyond USD, we track real-time naira exchange rates for British Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Chinese Yuan (CNY), Ghanaian Cedi (GHS), South African Rand (ZAR), UAE Dirham (AED), West and Central African CFA (XOF/XAF), and Australian Dollar (AUD). See the full breakdown on this page above, or use theFX calculatorto convert any amount instantly.