There are basically two naira to dollar exchange rates today in Nigeria – the Central Bank/official exchange rate and the “black market” exchange rate.
For a lot of people who are unable to source dollars from the Central bank and banks they resort to the Bureau De Changes (BDCs). Naira to dollar exchange rate at the BDC and peer to peer markets are significantly higher than the official rate.
If you have the need to purchase or sell dollars you obviously will want to keep tab of the exchange rate for the day as they vary and move depending on perceived demand and supply. Besides keeping abreast of currency exchange rates can be one of the ways to save some money by not overpaying when buying/selling dollar.
So here are different ways to keep track of the exchange rates
- Google: To get the official/CBN dollar exchange rate simply open Google on your device and type ‘dollar to naira’ to see the current exchange for today.
- AbokiFx: Abokifx is a website that curates and tracks the different exchange rates, Naira to Pound rates, Naira to Euro rates. On Abokifx you can check to see the BDC rates, ATM rates as well as forex market news.
- NGNRates: At NGNRates you can find current Naira to dollar, pounds, Euro, Canadian dollar rates etc. You can also use the Currency converter on the site to convert any amount to your desired currency