The foreign exchange market is a dynamic and integral part of the global economy, and Nigeria is no exception. With a bustling black market for currency exchange, understanding the conversion rates and the most asked questions about the process is crucial for both locals and foreigners.
Here’s an insightful look into the exchange of $100 to Nigerian Naira (NGN) at the black market rate on June 15, 2024.
Exchange Rate of $100 to Naira (NGN) at Black Market
As of June 16, 2024, the black market exchange rate for $100 to Naira is as follows:
50 Dollars to Naira Exchange Rate:
- Buying rate: ₦147,500 per US Dollar.
- Selling rate: ₦148,500 per US Dollar.
Please note that these rates are subject to change and can vary slightly depending on the location and the dealer.
Dollar to Naira Black Market Exchange Rate Table for Different Denominations:
Here’s a breakdown of the exchange rate for various denominations of Dollars to Nigerian Naira in the black market:
| Amount in Dollar ($) | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| 1 US Dollar ($1) to Naira | ₦1,475.00 | ₦1,485.00 |
| 5 US Dollars ($5) to Naira | ₦7,375.00 | ₦7,425.00 |
| 10 US Dollars ($10) to Naira | ₦14,750.00 | ₦14,850.00 |
| 20 US Dollars ($20) to Naira | ₦29,500.00 | ₦29,700.00 |
| 50 US Dollars ($50) to Naira | ₦73,750.00 | ₦74,250.00 |
| 100 US Dollars ($100) to Naira | ₦147,500.00 | ₦148,500.00 |
| 200 US Dollars ($200) to Naira | ₦295,000.00 | ₦297,000.00 |
| 300 US Dollars ($300) to Naira | ₦442,500.00 | ₦445,500.00 |
| 400 US Dollars ($400) to Naira | ₦590,000.00 | ₦594,000.00 |
| 500 US Dollars ($500) to Naira | ₦737,500.00 | ₦742,500.00 |
| 600 US Dollars ($600) to Naira | ₦885,000.00 | ₦891,000.00 |
| 800 US Dollars ($800) to Naira | ₦1,180,000.00 | ₦1,188,000.00 |
| 1000 US Dollars ($1000) to Naira | ₦1,475,000.00 | ₦1,485,000.00 |
| 5000 US Dollars ($5000) to Naira | ₦7,375,000.00 | ₦7,425,000.00 |
| 10000 US Dollars ($10000) to Naira | ₦14,750,000.00 | ₦14,850,000.00 |
