Naira To Dollar Exchange Rate From 1972

Naira To Dollar Exchange Rate From 1972-2022

Not so long ago the Nigerian Naira was a very powerful currency, the power of the NGN in the ’70s and ’80s, and to be specific as in 1979/1980 fifty-five kobo (55k) could get one dollar ($1). Here we’ve provided you Naira to Dollar exchange rate from 1972 to 2022.

Ever since the exploitation and discovery of crude oil in Nigeria, the major source of foreign currency (Forex) in Nigeria shifted from agriculture to crude oil hence the foreign reserves were deeply affected by the discovery of shale oil process of extracting oil, the crude oil price dropped significantly hence depleting the foreign reserves.

The love for western made products also played a significant role in the fall of the Naira currency as most products were imported into Nigeria which required Dollars to purchase hence making the demand for the Dollar a scarce commodity. Importation was so bad that Nigeria which was one of the highest exporters of agricultural products became an importer of products such as rice, garri, cocoa, and much more.

Older generations would be able to relate to the good times better when the Naira was as strong as the Dollar but for the newer generation seeking the history of the Naira against the dollar, this article should help you with that.

Nigerian Naira to Dollar Exchange Rate 1972-2022

YEARSUSDNGN
1972 $1 ₦0.658
1973 $1 ₦0.658
1974 $1 ₦0.630
1975 $1 ₦0.616
1976 $1 ₦0.612
1977 $1 ₦0.647
1978 $1 ₦0.606
1979 $1 ₦0.596
1980 $1 ₦0.550
1981 $1 ₦0.610
1982 $1 ₦0.673
1983 $1 ₦0.724
1984 $1 ₦0.765
1985 $1 ₦0.894
1986 $1 ₦2.020
1987 $1 ₦4.020
1988 $1 ₦4.540
1989 $1 ₦7.394
1990 $1 ₦7.390
1991 $1 ₦8.043
1992 $1 ₦9.919
1993 $1 ₦17.30
1994 $1 ₦22.33
1995 $1 ₦21.89
1996 $1 ₦21.89
1997 $1 ₦21.89
1998 $1 ₦21.89
1999 $1 ₦21.89
2000 $1 ₦99.00
2001 $1 ₦85.98
2002 $1 ₦109.0
2003 $1 ₦114.5
2004 $1 ₦127.3
2005 $1 ₦132.0
2006 $1 ₦128.5
2007 $1 ₦125.0
2008 $1 ₦120.0
2009 $1 ₦145.4
2010 $1 ₦148.5
2011 $1 ₦151.0
2012 $1 ₦155.5
2013 $1 ₦160.0
2014 $1 ₦200.0
2015 $1 ₦280.1
2016 $1 ₦300.0
2017 $1 ₦320.5
2018 $1 ₦350.0
2019 $1 ₦375.0
2020 $1 ₦380.0
2021 $1 ₦ 415.0
2022$1 ₦ 550.0

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About Adamu Maigari

My name is Adamu Maigari, I'm living in Borno, Nigeria - I write on Tech, Crypto, Gaming, Computing, Cybersecurity, and How to make money online.

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