Today, see our comprehensive guide as we look at the price of USD to naira today June 3rd, 2023 in the black market exchange rate!
In the past few days, the price of dollars to naira has not been stable as it has been moving upwards.
As of yesterday June 2nd, the price of 1$/naira was ₦760 and today the price is ₦760 for buying and ₦770 for selling, as reported by Bureau De Change (BDC).
In comparison to other currencies, 1£ / ₦942 , 1€/₦790 in the black market.
we will delve into the factors influencing the USD to naira today 3rd June in black market exchange rate and shed light on its significance in Nigeria’s economic landscape.
So, let’s dive in and explore the intriguing world of the dollar-to-naira black market exchange rate.
How Much Is 1 USD To Naira Today 3rd June 2023 The Official Exchange Rate?
In the exchange market, there is a price for black market and the official price which is used by CBN.
The CBN rate is the rate at which you can change dollar naira on the CBN dollar to naira website.
The black market rate is usually higher than that of the official rate
Below is a table showing official exchange rate for 1 USD to Naira.
| USD To NGN | Exchange Rate Today |
| Buy rate | ₦462 |
| Selling rate | ₦465 |
How Much Is 1 USD To Naira Black Market
The dollar to naira rate in the black market according to the Bureau De Change (BDC) operators in Lagos for selling and buying United States Dollars (USD) at the parallel (unofficial) market.
| Dollar To Naira (USD to NGN) | Exchange Rate Today |
| Buying rate | ₦750 |
| Selling rate | ₦760 |
How Much Is 500 USD To Naira In The Official Exchange Market
500 USD to naira in the official exchange market is ₦231,000.
Where 1 USD = ₦462.00
You can use a currency converter to calculate the dollar to naira or any other currency
How Much Is 500 USD TO Naira In The Black Market
As we earlier said, the black market rate and the official exchange rate are different. The black market rate is usually higher than the official rate.
So the rate of $500 to naira in the black market would be different from the official rate.
500 USD = ₦375,000