How Much Is 100 Dollar In Nigeria Currency?

Suppose you are a freelancer working from Nigeria or do any business that makes you earn in dollars. In that case, one of the areas of business that you want to keep on a close watch is the rate at which the dollar exchanges for the Nigerian currency.

Unfortunately, the rate of selling or buying foreign currencies in the country using Naira is not always constant as it changes daily, if not hourly.

In other words, the value of a hundred dollar bill right now when converted to Naira might not be the same worth in the next 3 to 24 hours. Hence, the ideal way to constantly get the current exchange rate of local to foreign currencies is by using a real-time online forex currency converter or checking the FMDQ website.

With this understanding, we can now address the question of the day.

The value of $100 in Naira today

The greenback currency can be bought or sold through either the I&E (Investors and Exporters) window segment of the exchange market, that is, by going directly to banks, or through the black market (what we all call the Bureau De Change (BDC)).

As with other foreign currencies like Pounds sterling and Euro, the Dollars exchange rate to Naira changes per time, and so, there is no fixed value for $100 in Nigerian Naira.

But, after observing the performance of the Nigerian forex market today, the worth of $100 in Nigerian currency is currently NGN41,125 at the rate of $1/NGN411.25 at the official window (When you go to banks.)

On the black market today, $100 is being exchanged for NGN55,000 in the black market at the rate of $550/N1 and subject to hourly change.

Whatever window you decide to sell or buy foreign currencies in Nigeria, keep in mind that it either goes up or slopes in value, depending on the performance of the exchange for that day and how well the CBN can moderate the forex market.

Where can I always get real-time USD to NGN exchange rate?

The best way to get the latest position or value of the dollar or any other currency when converted to Naira or otherwise is by having a go-to platform, forex API, that gives these updates as they change per minute or seconds.

There are many out there of this kind that people use, but the ideal one should be to get real-time exchange rates, see historical currency rates, and convert different currencies.

Some of these recommended platforms where you can get the at-the-present-moment NGN to USD exchange rate include:

  1. Pound Sterling Live 
  2. Investing.com
  3. Business Insider
  4. XE Currency Converter
  5. And many others…

Conclusion

Most of these platforms even offer about 180 global currencies, and the data is gathered from various commercial forex data providers and banks.

With any of these tools, you will not only be able to know how much $100 is in Nigeria alone. Still, you will also be provided with frequent data updates about exchanging foreign currencies, ranging from every 60 minutes to every 60 seconds.

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