See CBN Official Dollar To Naira Exchange Rate This Morning 7th August '23

 

IMPORTANT NOTICE: Please keep in mind that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has recommended individuals interested in Forex contact their respective banks before proceeding.

Recall that the parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the USD and the Nigerian Naira significantly impacts the Nigerian economy.

As the Naira falls in value, inflation takes over the economy, which usually impacts the inhabitants. The Central Bank has stated that the Nigerian economy needs a significant turnaround and has asked Nigerians to work toward this goal, such as increasing exports.

The black market rate for dollars is frequently higher than the Central Bank of Nigeria (CBN). The CBN Exchange rate is the rate at which you can purchase or sell dollars for Naira on the CBN dollar-to-naira website.

 Dollar-to-naira bank rate is the rate you use when you buy something from a foreign website with your Naira MasterCard or Debit card from a Nigerian bank. These rates are almost always cheaper than those on the black/parallel market.

CBN Dollar To Naira Rate Today

The CBN exchange rate of dollar to naira today, according to the data posted on the Central Bank of Nigeria (CBN) Currency Exchange Rate where forex is official is as follows:

Date	Currency	Buying(NGN)	Central(NGN)	Selling(NGN)
8/4/2023	US DOLLAR	749.615	750.115	750.615
8/4/2023	POUNDS STERLING	957.7081	958.3469	958.9857
8/4/2023	EURO	826.6005	827.1518	827.7032
8/4/2023	SWISS FRANC	860.8349	861.409	861.9832
8/4/2023	YEN	5.2935	5.297	5.3006
8/4/2023	CFA	1.2573	1.2673	1.2773
8/4/2023	WAUA	1022.9311	1023.6154	1024.2977
8/4/2023	RIYAL	199.6684	199.8016	199.9347
8/4/2023	DANISH KRONA	110.9128	110.9867	111.0607
8/4/2023	SDR	1001.7855	1002.4537	1003.1219

Below you can see the chart for the Nigerian Naira rate today compared to the Dollar.

1 USD = 765.96 NGN

1 Dollars = 765.96 Nigerian Naira

The USDNGN rate as of 7 Aug 2023 at 7:48 AM