Are you looking for how much 1 Canadian dollar to Naira is? If that is the case, then you definitely took the right decision by checking out this article. You don’t need to go anywhere else for what you need. We will be dishing out everything you need to know about the Canadian dollar to Naira and the conversion rate.
Do not adjust your device. We believe it will be worth every minute of your time. Sit back, relax, and just read through the rest of the article. But First, how can we define what a Canadian Dollar is?
What is the Canadian Dollar?
Let us begin by letting you know what the Canadian dollar is:
CAD is the abbreviation or symbol of the Canadian currency used to represent the Canadian Dollar. CAD is Canada’s official currency and is deemed to be a standard currency. This means that a lot of central banks all over the world keep Canadian dollars as a stand-by currency.
The subsequent symbols symbolize the Canadian dollar CAD; $, C$, CAD, Can$. Now that you have an idea of what a Canadian dollar is let us swiftly go into details about what the Nigerian currency is all about.
SEE: Dollar to Naira today Black Market Exchange Rate
What is Nigerian Naira?
The naira is the official currency of Nigeria. A naira is divided into 100 kobo. The Central Bank of Nigeria is the only body authorized to issue legal tender, which is money across the country. They control the amount of money distributed in the economy to ensure it is financially and price stable.
The Symbol that signifies the Naira in Nigeria is the letter “N” with double straight lines across it! The symbol is; ₦. With that being said, we’ve given you an idea of what the Canadian dollar and Nigerian currency look like. Let us go right into their conversion rate.
Note: The conversion rates hinge on where you want to convert them. There are a number of ways to change them. We have the bank rate, abokifx rate, black market rate, etc.
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Canadian Dollar to Naira Black Market
How much does 1 Canadian dollar worth in Naira?
CAD, as of today, has a black market rate of ₦471. This simply means that one Canadian dollar is around about ₦471 (Black Market rate).
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Canadian Dollar to Naira at Bank Rate
Canadian Dollar to Nigerian Naira Exchange Rate Today, FCMB CAD to NGN = ₦392
Note: You should have it at the back of your mind that the Canadian dollar to Naira selling rate actually different among Banks.
Now let us take a look at the exchange rate of the Canadian Dollar to Naira with different Nigerian banks.
First Bank of Nigeria Exchange Rate
| Date | Location | Rate |
| 01/05/2021 | Online | ₦ 316 |
| 01/04/2021 | Online | ₦ 316 |
| 01/03/2021 | Online | ₦ 316 |
SEE: How to Transfer Money from First Bank
Zenith Bank PLC Exchange Rate
| Date | Location | Rate |
| 01/05/2021 | Online | ₦ 353 |
| 29/04/2021 | Canada | ₦ 353 |
| 01/04/2021 | Online | ₦ 297 |
READ: Zenith Bank USSD Codes
UBA, United Bank of Africa Exchange Rate
| Date | Location | Rate |
| 01/05/2021 | Online | ₦ 316 |
| 01/04/2021 | Online | ₦ 316 |
| 01/03/2021 | Online | ₦ 316 |
RELATED: How to Use UBA Transfer Code
Stanbic IBTC Bank Exchange Rate
| Date | Location | Rate |
| 01/05/2021 | Online | ₦ 337 |
| 01/04/2021 | Online | ₦ 337 |
| 01/03/2021 | Online | ₦ 337 |
Union Bank of Nigeria PLC Exchange Rate
| Date | Location | Rate |
| 01/05/2021 | Online | ₦ 316 |
| 01/04/2021 | Online | ₦ 316 |
| 01/03/2021 | Online | ₦ 316 |
Ecobank Exchange Rates
| Date | Location | Rate |
| 30/06/2020 | Canada | ₦ 299 |
FCMB Canadian Dollar Bank Rates
| Date | Location | Rate |
| 18/04/2022 | Online | ₦ 392 |
| 01/05/2021 | Online | ₦ 298 |
| 01/04/2021 | Online | ₦ 298 |
READ: FCMB USSD Code
Standard Chartered Bank Rates
| Date | Location | Rate |
| 17/11/2021 | Online | ₦ 371 |
| 13/10/2021 | Online | ₦ 373 |
| 10/09/2021 | Online | ₦ 365 |
GTBank, Guarantee Trust Bank Exchange Rate
| Date | Location | Rate |
| 20/08/2021 | Canada | ₦ 366 |
| 02/07/2021 | Canada | ₦ 329 |
| 03/05/2021 | Canada | ₦ 366 |
READ: How To Check Account Balance On GTB
Sterling Bank PLC Exchange Rate
| Date | Location | Rate |
| 20/08/2021 | Online | ₦ 344 |
Access Bank PLC Exchange Rate
| Date | Location | Rate |
| 18/08/2021 | Online | ₦ 357 |
| 16/07/2021 | Online | ₦ 361 |
| 01/07/2021 | Canada | ₦ 367 |
SEE: Access Bank Transfer Code (2023)
Polaris Bank Limited Exchange Rate
| Date | Location | Rate |
| 13/06/2021 | Online | ₦ 382 |
RELATED: Polaris Bank Transfer Code
Canadian Dollar to US Dollar Today
As of today, one (1) Canadian dollar equals 0.78 United States Dollars. While the US dollar to the Canadian dollar is 1 USD equals 1.282 CAD.
How Much is Canadian Dollar to Naira
Here are some of the few conversion rates of the Canadian Dollar to the Naira. (Black Market selling/ exchange rate). We will look at some numbers, from 1- almost a million Canadian dollars.
| Canadian Dollar | Naira |
| 1 Canadian dollar | ₦ 471 |
| 10 Canadian dollar | ₦ 4,710 |
| 100 Canadian dollar | ₦ 47,100 |
| 1000 Canadian dollar | ₦ 471,000 |
| 2000 Canadian dollar | ₦ 942,000 |
| 3000 Canadian dollar | ₦ 1,413,000 |
| 4000 Canadian dollar | ₦ 1,884,000 |
| 5000 Canadian dollar | ₦ 2,355,000 |
| 10000 Canadian dollar | ₦ 4,710,000 |
| 20000 Canadian dollar | ₦ 9,420,000 |
| 50000 Canadian dollar | ₦ 23,550,000 |
| 100000 Canadian dollar | ₦ 47,100,000 |
| 1M Canadian dollar | ₦ 471,000,000 |
How the Canadian Dollar Currency was Created
The original residents of Canada were the First Nations and Inuit, who bartered in goods on an exchange basis. Different stuff filled in for the currency role, such as copper, peag and labour shells.
Peag belts, made of a number of little shells, were used by native people in eastern Canada to determine wealth and as gifts. They also used Peag belts as currency during the early colonial period and were seen as legal tender in the early Dutch and British colonies.
Native peoples also swapped pelts with European traders to trade commodities such as weapons, cloth, food, silver items, and tobacco. Throughout the long period of the pelt trade, the topper pelt was widely accepted as a means of exchange by native peoples and European traders equally.
It was accepted to the point that topper pelts, called “Made Beavers”, were used as an entity of account by the Hudson Bay Company to create stable pricing of all its trade goods.
Actual Meaning of the Exchange Rate
The exchange rate is the value of one country’s money to another country’s money. For example, Canadian Dollar to Naira, pounds to Dollar, and so on. The exchange rate is set when the countries make use of gold or another settled basis. And every single one of the currencies is worth a certain size of the metal or other standard.
Exchange rates drift when demand and supply or rumours push up the exchange rate (unit conversion). When a country is heavily invested in importing huge amounts of goods, demand will spike up the exchange rate for that country.
This will make the goods that have been imported more expensive for buyers in that country. When goods turn out more expensive, demand will go down, and money in this country will be cheaper than money in other countries.
Subsequently, the country’s goods will turn out to be cheaper for buyers overseas, demand will increase, and exports from that country will increase.
Now that you have a good idea of the exchange rate of the Canadian dollar to the naira, we hope it will help you make informed decisions for whatever you need it for. The naira is presently not doing well in the exchange rate market, as it keeps falling almost every day.
FAQs of the Canadian Dollar to Naira
Canadian Dollar to Nigerian Naira Exchange Rate Today, Live 1 CAD to NGN = 337.0415
$100.00 – the one hundred ?? Canadian dollars is worth ₦33,704.15 (NGN) today or ?? thirty-three thousand seven hundred four naira 15 kobos
Canadian Dollar to Naira black market exchange rate today is between ₦600 and ₦602 with an average of ₦601.00
The Exchange Rate For Converting Nigerian Naira to Canadian Dollars – 1 NGN = 0.178 CAD
All of Canada uses the Canadian dollar, however, certain retailers throughout the country will accept the US dollar as a form of payment for goods.
