ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, October 15, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
Home Exchange Rates

Historical Exchange Rates of Dollar to Naira From 1972 To Date

The banknotes feature images of important political leaders from Nigeria's history, such as Sir Abubakar Tafawa Balewa, the country's first prime minister, and Nnamdi Azikiwe, the first president.

by NewsOnline Nigeria
August 18, 2023
in Exchange Rates, Top Stories
0
Dollar to Naira Black Market Exchange Rate Today

Historical Exchange Rates of Dollar to Naira from 1972 to date have been provided below.

 

Newsonline Nigeria reports that the currency in Nigeria is called the naira, which is divided into 100 kobo. It was introduced in 1973 when the country switched to a decimalized monetary system.

The naira replaced the Nigerian pound, which was previously used when Nigeria was a British colony.

 

The Central Bank of Nigeria is responsible for issuing banknotes and coins. Coins range in denominations from 12 kobo to 1 naira, while banknotes are available in values from 5 to 500 naira.

 

The banknotes feature images of important political leaders from Nigeria’s history, such as Sir Abubakar Tafawa Balewa, the country’s first prime minister, and Nnamdi Azikiwe, the first president.

 

The exchange rate between the Nigerian Naira and the American Dollar has fluctuated over the past 51 years.

 

There was a time in history when the Nigerian Naira had a higher value than the American Dollar.

 

Nigeria, known as the giant of Africa, had a respected and valuable currency in the international market.

 

In 1983, for example, one American Dollar was equivalent to 0.894 Nigerian Naira ($1 = N0.894), which was less than a Naira but 89 Kobo.

 

The Nigerian economy and currency played a significant role in earning Nigeria its title as the giant of Africa.

Exchange Rates of Dollar to Naira from 1972 to date

1972 $1 = N0.658

1973 $1 = N0.658

1974 $1 = N0.63

1975 $1 = N0.616

1976 $1 = N0.62

1977 $1 = N0.647

1978 $1 = N0.606

1979 $1 = N0.596

1980 $1 = N0.550 (0.900 Black Market Rate)

1981 $1 = N0.61

1982 $1 = N0.673

1983 $1 = N0.724

1984 $1 = N0.765

1985 $1 = N0.894 (N1.70 Black Market Rate)

1986 $1 = N2.02 (N3.90 Black Market Rate)

1987 $1 = N4.02 (N5.90 Black Market Rate)

1988 $1 = N4.54 (N6.70 Black Market Rate)

1989 $1 = N7.39 (N10.70 Black Market Rate)

1990 $1 = N7.39 (N10.70 Black Market Rate)

1991 $1 = N8.04 (N9.30 Black Market Rate)

1992 $1 = N9.91

1993 $1 = N17.30 (N21.90 Black Market Rate)

1994 $1 = N22.33 (N56.80 Black Market Rate)

1995 $1 = N21.89 (N71.70 Black Market Rate)

1996 $1 = N21.89 (N84.58 Black Market Rate)

1997 $1 = N21.89 (N84.58 Black Market Rate)

1998 $1 = N21.89 (N84.70 Black Market Rate)

1999 $1 = N21.89 (N88-N90 Black Market Rate)

2000 $1 = N85.98 (N105.00 Black Market Rate)

2001 $1 = N99-N106 (N104-N122 Black Market Rate)

2002 $1 = N109-N113 (N122-N140 Black Market Rate)

2003 $1 = N114-N127 (N135-N137 Black Market Rate)

2004 $1 = N127-N130 (N137-N144 Black Market Rate)

2005 $1 = N132-N136

2006 $1 = N128.50-N131.80

2007 $1 = N120-N125

2008 $1 = N115.50-N120

2009 $1 = N145-N171

2010 $1 = N148.21-N154.8

2011 $1 = N151.05-N165.1

2012 $1 = N155.09-N161.5

2013 $1 = N153.21-N162.9

2014 $1 = N170-N199

2015 $1 = N199-N300

2016 $1 = N300-N320 (N310-N370 Black Market Rate)

2017 $1 = N360

2018 $1 = N360

2019 $1 = N305

2020 $1 = N361

2021 $1 = N399

2022. = Official = N419. Unofficial = N671

2023 $1 = N945 (Black Market Rate)

ADVERTISEMENT
Previous Post

Niger Junta Leaders Evacuate Families To Dubai, Burkina Faso

Next Post

BREAKING: Government Declares Monday Public Holiday

Next Post
Monday Public Holiday

BREAKING: Government Declares Monday Public Holiday

Trending Stories

No Content Available

Latest Stories

Sacked African Alliance Directors

NAICOM Bans Sacked African Alliance Directors from Future Board Appointments in Insurance Sector

Presidential Pardon for Convicted Criminals

Tinubu Faces Intense Criticism Over Presidential Pardon for Convicted Criminals

University Admission

FG Drops Mathematics Requirement for Arts and Humanities Students Seeking University Admission

New INEC Chairman

BREAKING: Tinubu Officially Nominates New INEC Chairman, Seeks Senate Approval

2026 World Cup Qualification

Super Eagles Miss Out on Automatic 2026 World Cup Qualification Despite Thrashing Benin 4–0

OnePipe

OnePipe Tackles Missed Bill Payments with New Utility Scheduling Feature on PaywithAccount

Chelsea Complete Signing of Nigerian Defender Justin Osagie

2026 World Cup Qualifiers: Nigeria’s Path to CAF Playoffs Still Open Even If South Africa Triumphs

How Late Evangelist Uma Ukpai Miraculously Healed Me of Asthma and Pneumonia – Frank Edwards

Asherkine Opens Up: “It Was a Mental Battle” Amid Scary Health Struggles From Binge-Eating Videos

ADVERTISEMENT

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: [email protected]

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria