Editing Nigerian naira (section)

==Exchange rates==
When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate.

The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar. This rate is almost two times different{{clarify|date=December 2024}} from the illegal black market exchange rate.
The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar.{{when|date=December 2024}}<ref>{{Cite web|url=https://www.curvert.com/en/usd-ngn/|title=US Dollar to Naira - Exchange Rate Today |website=www.curvert.com|accessdate=August 8, 2023}}</ref>

According to a recent (June 2024) report by [[Naija News]], the parallel market exchange rate of the naira to the U.S. dollar is around ₦1483 per 1 USD, significantly higher than the official Central Bank of Nigeria rate. This disparity highlights underlying economic challenges and market pressures.<ref>{{Cite web |date=2024-06-21 |title=Official and Parallel Market Naira to Dollar Exchange Rate Today (June 21, 2024) |url=https://naijaecho.com.ng/parallel-market-naira-to-dollar-exchange-rate/ |access-date=2024-07-08 |language=en-US}}</ref>

[[File:USD vs NGN.png|upright=1.35|thumb|Rate of the Nigerian naira for [[United States Dollar|US$]]1 (1994–2005)]]
This table shows the historical value of one U.S. dollar in Nigerian naira. PM = parallel market.

{| class="wikitable mw-collapsible"
! Date !! ₦ per US$ 
! !! Date !! ₦ per US$ 
! !! Date !! ₦ per US$
|-
| 1972 || 0.658
| || 1993 || 17.30 (21.90 PM) 
| ||  2014  ||  170–199 
|-
| 1973 || 0.658
| || 1994 || 22.33 (56.80 PM)  
| ||  2015  ||  199–300
|-
| 1974 || 0.63
| || 1995 || 21.89 (71.70 PM)   
| ||  2016  ||  390–489
|-
| 1975 || 0.616
| || 1996 || 21.89 (84.58 PM)   
| ||  2017  ||  333
|-
| 1976 || 0.62
| || 1997 || 21.89 (84.58 PM)   
| ||  2018  ||  360
|-
| 1977 || 0.647
| || 1998 || 21.89 (84.70 PM)  
| ||  2019  ||  305
|-
| 1978 || 0.606
| || 1999 || 21.89 (88–90 PM)  
| ||  2020  ||  361 
|-
| 1979 || 0.596
| || 2000 || 85.98 (105.00 PM) 
| ||  2021  ||  399
|-
| 1980 || 0.550 (0.900 PM) 
| || 2001 || 99–106 (104–122 PM)
|
|2022
|423
|-
| 1981 || 0.61
| || 2002 || 109–113 (122–140 PM)
|
|2024
|1483
|-
| 1982 || 0.673
| || 2003 || 114–127 (135–137 PM)
|
|Jan 2025
|1555
|-
| 1983 || 0.724
| || 2004 || 127–130 (137–144 PM)
|-
| 1984 || 0.765
| || 2005 || 132–136
|-
| 1985 || 0.894 (1.70 PM) 
| || 2006 || 128.50–131.80
|-
| 1986 || 2.02 (3.90 PM) 
| || 2007 || 120–125
|-
| 1987 || 4.02 (5.90 PM) 
| || 2008 || 115.50–120
|-
| 1988 || 4.54 (6.70 PM) 
| || 2009 || 145–171
|-
| 1989 || 7.39 (10.70 PM) 
| || 2010 || 148.21–154.8
|-
| 1990 || 7.39 (10.70 PM) 
| || 2011 || 151.05–165.1
|-
| 1991 || 8.04 (9.30 PM) 
| || 2012 || 155.09–161.5
|-
| 1992 || 9.91 
| || 2013 || 153.21–162.9
|}

{{Exchange rate|NGN|EUR|JPY|USD}}