It is important to know GTBank Dollar to Naira exchange rate today if you 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 you have a dollar account, otherwise known as a domiciliary account. See our guide on opening a domiciliary account in 2019 in Nigeria.
GTBank Dollar to Naira Exchange Rate Today – 2019
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 N365 naira at the moment
GTBank Dollar to Naira exchange rate is $1 to N305 at the moment.
Implications: This means if someone wired payment to your GTBank Naira account in Dollars you will be paid N305 to 1 US Dollars. If you have a Dollar account or domiciliary account you will get close to N365 for 1 US Dollar. If you go to the black market you will get N365 for 1 US Dollar.
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