The black market rate for 1416 Dollars to Naira is 2,331,090 NGN as of today, 03:36 PM WAT.
When you convert 1416 US Dollars to Nigerian Naira, you get 2,331,090 NGN, using the rate of 0.000607 USD for 1 NGN. *This rate is obtained using the black market average across various unofficial channels outside the CBN.
You can use the currency converter above to check USD rates and it’s NGN equivalent. See also our USDT to Naira converter.
| Currency Conversion | Black Market Rate in Naira |
|---|---|
| 1416 Dollars to Naira | 2,331,090 |
| 1416 Tether USD to Naira | 2,332,180.32 |
| 1416 British Pounds to Naira | 2,807,389.92 |
| 1416 Euros to Naira | 2,326,785.36 |
Last 7 days, 1416 USD was traded for 2,331,081 NGN, yesterday it went for 2,331,088.5 NGN, and today it averages 2,331,090 Naira. Here is the complete price chart in the last 7 days. Compare the daily prices for 1416 US Dollars against the Nigerian Naira, and the price movements for the week.
| Date | Conversion Rate |
|---|---|
| Thursday, 26th December 2024 | $1416 = 2,331,090 Naira |
| Wednesday, 25th December 2024 | $1416 = 2,331,088.5 Naira |
| Tuesday, 24th December 2024 | $1416 = 2,331,087 Naira |
| Monday, 23rd December 2024 | $1416 = 2,331,085.5 Naira |
| Sunday, 22nd December 2024 | $1416 = 2,331,084 Naira |
| Saturday, 21st December 2024 | $1416 = 2,331,082.5 Naira |
| Friday, 20th December 2024 | $1416 = 2,331,081 Naira |
| US Dollars | Naira Equivalent (NGN) |
|---|---|
| 1 Dollars (USD) to Naira | 1,646.25 |
| 10 Dollars (USD) to Naira | 16,462.5 |
| 20 Dollars (USD) to Naira | 32,925 |
| 30 Dollars (USD) to Naira | 49,387.5 |
| 40 Dollars (USD) to Naira | 65,850 |
| 50 Dollars (USD) to Naira | 82,312.5 |
| 60 Dollars (USD) to Naira | 98,775 |
| 70 Dollars (USD) to Naira | 115,237.5 |
| 80 Dollars (USD) to Naira | 131,700 |
| 90 Dollars (USD) to Naira | 148,162.5 |
| 100 Dollars (USD) to Naira | 164,625 |
| 200 Dollars (USD) to Naira | 329,250 |
| 300 Dollars (USD) to Naira | 493,875 |
| 500 Dollars (USD) to Naira | 823,125 |
| 700 Dollars (USD) to Naira | 1,152,375 |
| 1,000 Dollars (USD) to Naira | 1,646,250 |
| 1,500 Dollars (USD) to Naira | 2,469,375 |
| 2,000 Dollars (USD) to Naira | 3,292,500 |
| 3,000 Dollars (USD) to Naira | 4,938,750 |
| 5,000 Dollars (USD) to Naira | 8,231,250 |
| 10,000 Dollars (USD) to Naira | 16,462,500 |
In Nigeria, the black market for USD (Black Market Dollars) refers to the unofficial exchange of U.S. dollars at rates significantly higher than the official rate set by the Central Bank of Nigeria. This unregulated parallel market reflects economic pressures such as inflation, foreign exchange shortages, and regulatory constraints.
The Nigerian Naira (NGN), represented by the symbol ₦, is Nigeria's official currency. It is issued by the Central Bank of Nigeria and is used for all domestic transactions, available in both coin and banknote forms.