It is important to know GTBank Dollar to Naira exchange rate today if you are an account holder of the bank and you conduct business in foreign transactions. There is the black market exchange rate and the official bank rate with which your bank pays you except if you have a dollar account, otherwise known as a domiciliary account. See our guide on opening a domiciliary account in Nigeria.
GTBank Dollar to Naira Exchange Rate Today
There are some terms you have to understand in exchange rates. There is Interbank Rate and Parallel Rate. The Interbank rate is used for transactions within banks so you do not really have to worry about this as an individual. Then we have the Parallel Rate also referred to as the black market rate. Parallel rate is the exchange rate you normally get from third parties that do not involve the bank, e.g. like changing your Dollar to Naira from Mallams.
Black Market to Dollar exchange rate is $1 to N750 naira at the moment
GTBank Dollar to Naira exchange rate is $1 to N490 at the moment.
Implications: If someone wired payment to your GTBank Naira account in Dollars, you would be paid N490 to 1 US Dollar. You will get close to N490 for 1 US Dollar if you have a Dollar or domiciliary account. If you go to the black market, you will get N750 for 1 US Dollar.
You can bookmark this page as we will be updating GTBank Dollar to Naira Exchange Rate today all the time.