The dollar to naira exchange rate in the black market remains a key concern for businesses, travelers, and forex traders in Nigeria. Due to forex scarcity and fluctuating market conditions, the exchange rate has been experiencing volatility.
As of today, 26th February 2025, the latest black market exchange rates for the dollar to naira are as follows:
Dollar to Naira Black Market Exchange Rate Today
- Buying Rate: ₦1,495 per $1
- Selling Rate: ₦1,510 per $1
These rates may change throughout the day depending on demand and supply in the parallel market.
How Much is Dollar to Naira Today in Black Market?
Many Nigerians rely on the black market to exchange their dollars due to limited access to official forex sources. The parallel market offers more competitive rates, but it is also influenced by economic policies and forex availability.
For the latest and most accurate dollar to naira exchange rates, visit Investors King and Aboki Forex to stay updated.
CBN Official Dollar to Naira Exchange Rate
The Central Bank of Nigeria (CBN) maintains an official exchange rate that differs from the black market. The official rate is typically lower since the CBN controls forex allocations. To check the latest CBN exchange rate, visit the CBN website.
Factors Affecting the Black Market Exchange Rate
Several factors contribute to the fluctuation of the dollar to naira exchange rate in the black market:
- Forex Supply and Demand: A shortage of dollars drives up exchange rates.
- Inflation and Economic Policies: The weakening naira leads to higher forex rates.
- CBN Forex Regulations: Restrictions on forex access push demand to the parallel market.
- Market Speculation: Traders hold dollars, anticipating further naira depreciation.
- Foreign Reserves and Capital Inflows: A decline in Nigeria’s forex reserves impacts currency liquidity.
Conclusion
The dollar to naira exchange rate in the black market today, 26th February 2025, continues to fluctuate due to economic and policy factors. It is advisable to stay informed and check multiple sources before making forex transactions.
For the most reliable and up-to-date exchange rate information, visit Investors King and Aboki Forex to make well-informed financial decisions.
