The black market rate for 550 Dollars to Naira is 893,436.5 NGN as of today, 05:54 PM WAT.
When you convert 550 US Dollars to Nigerian Naira, you get 893,436.5 NGN, using the rate of 0.000616 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 |
|---|---|
| 550 Dollars to Naira | 893,436.5 |
| 550 Tether USD to Naira | 894,388 |
| 550 British Pounds to Naira | 1,093,664 |
| 550 Euros to Naira | 906,383.5 |
Last 7 days, 550 USD was traded for 893,427.5 NGN, yesterday it went for 893,435 NGN, and today it averages 893,436.5 Naira. Here is the complete price chart in the last 7 days. Compare the daily prices for 550 US Dollars against the Nigerian Naira, and the price movements for the week.
| Date | Conversion Rate |
|---|---|
| Tuesday, 24th December 2024 | $550 = 893,436.5 Naira |
| Monday, 23rd December 2024 | $550 = 893,435 Naira |
| Sunday, 22nd December 2024 | $550 = 893,433.5 Naira |
| Saturday, 21st December 2024 | $550 = 893,432 Naira |
| Friday, 20th December 2024 | $550 = 893,430.5 Naira |
| Thursday, 19th December 2024 | $550 = 893,429 Naira |
| Wednesday, 18th December 2024 | $550 = 893,427.5 Naira |
| US Dollars | Naira Equivalent (NGN) |
|---|---|
| 1 Dollars (USD) to Naira | 1,624.43 |
| 10 Dollars (USD) to Naira | 16,244.3 |
| 20 Dollars (USD) to Naira | 32,488.6 |
| 30 Dollars (USD) to Naira | 48,732.9 |
| 40 Dollars (USD) to Naira | 64,977.2 |
| 50 Dollars (USD) to Naira | 81,221.5 |
| 60 Dollars (USD) to Naira | 97,465.8 |
| 70 Dollars (USD) to Naira | 113,710.1 |
| 80 Dollars (USD) to Naira | 129,954.4 |
| 90 Dollars (USD) to Naira | 146,198.7 |
| 100 Dollars (USD) to Naira | 162,443 |
| 200 Dollars (USD) to Naira | 324,886 |
| 300 Dollars (USD) to Naira | 487,329 |
| 500 Dollars (USD) to Naira | 812,215 |
| 700 Dollars (USD) to Naira | 1,137,101 |
| 1,000 Dollars (USD) to Naira | 1,624,430 |
| 1,500 Dollars (USD) to Naira | 2,436,645 |
| 2,000 Dollars (USD) to Naira | 3,248,860 |
| 3,000 Dollars (USD) to Naira | 4,873,290 |
| 5,000 Dollars (USD) to Naira | 8,122,150 |
| 10,000 Dollars (USD) to Naira | 16,244,300 |
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.