Saudi Riyal to Naira Today — SAR to NGN Rate 7/24/2026
How Much is 1 Saudi Riyal to Naira Today?
CBN Official Rate
Central Bank of Nigeria
₦364.38
per 1 Saudi Riyal (SAR)
Est. Black Market Rate
Parallel market estimate
₦374.30
per 1 Saudi Riyal (SAR)
Estimated black market SAR rate = (CBN SAR ÷ CBN USD) × Black Market USD/NGN rate.
SAR is pegged to USD at 3.75:1, so it tracks the dollar rate closely.
The Saudi Riyal to Naira exchange rate today is approximately
₦374.30 Naira per 1 SAR (estimated parallel market rate).
The official CBN rate is ₦364.38 per SAR.
Since the Saudi Riyal is pegged to the US Dollar at 3.75 SAR per USD, the SAR/NGN rate moves
in near-lockstep with the dollar to naira rate.
How much is 100 Riyals in Naira today? 100 Saudi Riyals = approximately
₦37,430 Naira at today's estimated rate.
How much is 1000 Riyals in Naira today? 1,000 Saudi Riyals = approximately
₦374,301 Naira.
Why is the Saudi Riyal Important for Nigerians?
Saudi Arabia hosts one of the largest Nigerian expatriate communities, with hundreds of thousands
of Nigerians working in Saudi Arabia in sectors including healthcare, construction, domestic work,
and oil & gas. These workers regularly send remittances home to Nigeria in Saudi Riyals,
making the SAR to Naira exchange rate one of the most searched forex rates among Nigerians.
The Saudi Riyal has been pegged to the US Dollar at 3.75 SAR = 1 USD since 1986.
This means the SAR/NGN rate is directly derived from the USD/NGN rate — when the naira weakens
against the dollar, it weakens proportionally against the Saudi Riyal too.
Best Ways to Send Saudi Riyals to Nigeria
Nigerian workers in Saudi Arabia have several options for sending money home:
Wise (formerly TransferWise): Often offers the best SAR to NGN exchange rate
with transparent, low fees. Send SAR directly to a Nigerian bank account.
Western Union: Available at most Saudi locations. Recipient can collect Naira cash or direct to bank.
Compare the WU rate against the CBN rate shown above.
MoneyGram: Similar to Western Union — wide agent network in Saudi Arabia.
Bank Wire (SWIFT): Transfer directly from your Saudi bank to a Nigerian domiciliary account (USD) or Naira account.
Bank fees are typically higher than money transfer operators.
USDT (Crypto): Convert SAR to USDT in Saudi Arabia (via P2P exchanges)
and sell USDT on Binance P2P Nigeria at near black market rates. This can yield better
Naira rates than traditional channels but requires crypto knowledge.
Always compare your service's SAR/NGN rate against the rates on this page to ensure you're getting a fair deal.
No, we do not trade any currency pair. Aboki Forex is purely an information platform that provides real-time black market and official CBN exchange rates. To exchange currency, contact a licensed Bureau de Change (BDC), your bank, or a trusted local forex dealer.
Is AbokiFx the same as Aboki Forex?
No, Aboki Forex (abokiforex.app) and AbokiFx are two separate and unaffiliated platforms. We are not connected to AbokiFx in any way. Aboki Forex provides live black market and CBN exchange rates for all major currencies versus the Nigerian Naira.
How can I Exchange Currency in Nigeria?
To exchange foreign currency in Nigeria, you have several options: (1) Visit a licensed Bureau de Change (BDC) — these are regulated by the CBN and found in major cities. (2) Use your commercial bank — they offer official CBN rates for account holders. (3) Use a trusted local forex market dealer — these operate in parallel/black market and typically offer higher rates than banks. Always verify the current rate on Aboki Forex before exchanging to ensure you get a fair deal.
Are the Black Market Rates accurate in all Markets?
Aboki Forex provides average black market rates collected from multiple dealers across major Nigerian cities including Lagos, Abuja, Kano, and Port Harcourt. Because the parallel market is unregulated, actual rates vary by location, dealer, and transaction size. The rates on Aboki Forex are a reliable benchmark, but always confirm the exact rate with your dealer before completing any transaction.
What is the difference between CBN, I&E and Black Market Rates?
The CBN (Central Bank of Nigeria) rate is the official government exchange rate used by commercial banks and regulated financial institutions. The I&E (Investors and Exporters) window was a market-based rate that has now been merged with the official CBN rate following Nigeria's forex unification policy. The Black Market rate (also called the parallel market or street rate) is typically higher than the official rate and reflects actual supply and demand dynamics for foreign currency in Nigeria outside the regulated banking system.
How often are the exchange rates updated on Aboki Forex?
Black market exchange rates on Aboki Forex are updated every hour throughout the trading day. The rates reflect real-time data collected from parallel market dealers across Nigeria. CBN official rates are updated daily, typically after the Central Bank of Nigeria publishes its official rates each business day.
What is the best way to send money from the USA to Nigeria?
The best way to send money from the USA to Nigeria depends on the amount: Sendwave charges zero fees for everyday transfers, Wise gives the best exchange rate on larger amounts, and USDT P2P delivers naira closest to the black market rate. Note that Zelle, Cash App, and Venmo cannot send money to Nigeria. See our full guide on how to send money from the USA to Nigeria, and check the live dollar to naira black market rate before you send.
Why is the black market dollar to naira rate higher than the official CBN rate?
The black market dollar to naira rate is higher than the official CBN rate because of the gap between foreign currency supply and demand in Nigeria. The Central Bank of Nigeria controls access to dollars at the official rate, limiting who can buy forex through official channels. Businesses and individuals who cannot access dollars through banks must turn to the parallel market, where higher demand relative to supply drives up the exchange rate.
