The value of the Nigerian naira continues to fluctuate against the U.S. dollar in the black market as demand for foreign currency remains high. As of today, 29th January 2025, the dollar to naira black market exchange rate stands as follows:
- Buying Rate: ₦1,618.00 per $1
- Selling Rate: ₦1,635.00 per $1
Traders and individuals seeking real-time USD/NGN black market rates can track daily updates on Investors King and Bloomberg for the latest insights.
How Much is Dollar to Naira Today in Black Market?
The black market exchange rate is influenced by multiple factors, including dollar demand from importers, inflation, and forex supply constraints. Today’s rate of ₦1,635 per dollar indicates continued pressure on the naira, despite recent interventions by financial authorities to stabilize the currency.
Factors Influencing the Dollar to Naira Exchange Rate
- Forex Demand and Supply: A high demand for dollars in the informal market often drives up the exchange rate.
- CBN Policies: The Central Bank of Nigeria (CBN) has implemented various monetary policies to stabilize the naira, but the parallel market rate remains volatile.
- Inflation and Economic Conditions: Inflationary pressures, interest rates, and government policies play a key role in shaping the naira’s performance against the dollar.
- Global Forex Trends: International currency movements and geopolitical events can also impact exchange rate fluctuations.
Where to Check the Dollar to Naira Black Market Rate Daily?
To stay updated on the latest dollar to naira black market exchange rates, visit:
- Investors King – For reliable forex updates, financial news, and economic analysis.
- Naira Today – For daily USD/NGN exchange rate updates and forex trends in Nigeria.
Final Thoughts
With the naira experiencing continued fluctuations in the black market, businesses, traders, and investors must stay informed about the latest forex rates. Whether buying or selling dollars, checking trusted sources like Investors King and Naira Today ensures you get accurate exchange rate updates for better financial decisions.