The dollar to naira exchange rate remains a key focus for traders, businesses, and individuals who rely on foreign exchange for transactions.
As of 27th February 2025, the exchange rate in the black market continues to fluctuate due to various economic factors, including demand and supply dynamics, inflationary pressures, and Nigeria’s foreign exchange policies.
For today’s exchange rate, buyers and sellers in the parallel market are transacting at the following rates:
| Dollars to Naira |
Exchange Rate Today |
| Buying Rate |
₦1,475 per $1 |
| Selling Rate |
₦1,490 per $1 |
These rates are subject to change depending on market conditions and forex availability.
How Much is Dollar to Naira Today in Black Market?
The black market exchange rate for the dollar to naira is influenced by several factors, including demand from importers, travelers, and investors seeking foreign currency outside the official channels. Compared to the official Central Bank of Nigeria (CBN) rate, the parallel market rate is usually higher due to forex scarcity and regulatory restrictions.
For real-time updates on the dollar to naira exchange rate, visit Investors King, a leading financial news platform covering forex movements, economic policies, and investment trends in Nigeria.
For those looking to track live rates, Aboki Forex provides daily updates on black market exchange rates. You can also check the official CBN exchange rate directly from the Central Bank of Nigeria.
Factors Affecting the Dollar to Naira Exchange Rate
Several factors contribute to the volatility of the dollar to naira exchange rate in Nigeria, including:
- Forex Supply and Demand: High demand for dollars from businesses, travelers, and importers often pushes the exchange rate higher.
- CBN Policies: The Central Bank of Nigeria’s interventions, restrictions, and foreign exchange supply to banks influence the official and black market rates.
- Inflation and Economic Stability: Inflationary trends and overall economic performance impact the strength of the naira against the dollar.
- Oil Prices: Since Nigeria’s economy heavily relies on oil exports, fluctuations in global oil prices affect the country’s foreign reserves and exchange rate.
- Speculation and Hoarding: Forex traders and speculators sometimes hoard dollars in anticipation of further depreciation, driving up demand in the black market.
Official vs Black Market Exchange Rate
The CBN official exchange rate remains significantly lower than the black market rate. However, due to limited access to forex at the official rate, many individuals and businesses turn to the parallel market for their dollar needs.
For accurate and up-to-date exchange rate information, visit Aboki Forex and Investors King to track forex trends in Nigeria.
Should You Buy or Sell Dollars Now?
With continued volatility in the foreign exchange market, individuals and businesses are advised to monitor the latest forex trends before making exchange transactions. Whether you are an importer, traveler, or investor, staying informed about the dollar to naira exchange rate is crucial for financial planning.
For daily updates on forex rates, CBN policies, and investment opportunities, visit Investors King.
