As of today, Thursday, 24th April 2025, the Dollar to Naira exchange rate remains a focal point for businesses, importers, and investors across Nigeria.
The continued volatility in the foreign exchange market is pushing many Nigerians to monitor the parallel market closely as the Central Bank of Nigeria (CBN) maintains its official stance.
How Much is Dollar to Naira Today in Black Market?
In the black market, also known as the parallel market, the dollar to naira exchange rate is significantly higher than the rates seen on official platforms.
Buying Rate: ₦1,590
Selling Rate: ₦1,600
This disparity continues to widen due to high demand for foreign currency and limited supply in the official forex window. As of today, traders and exchange agents across key markets in Lagos, Abuja, and Port Harcourt report these same rates, with slight fluctuations depending on location and transaction volume.
For real-time updates on black market trends, visit Aboki Forex, a reliable platform for daily parallel market rates.
Official Exchange Rate – Central Bank of Nigeria
On the official market, the Central Bank of Nigeria (CBN) maintains a different rate, which is often much lower than the parallel market. The CBN’s exchange rate is available for individuals and institutions that qualify for foreign exchange through government-licensed banks and forex windows.
To access the CBN’s current exchange rate, visit the Central Bank of Nigeria website.
It is important to note that while the CBN provides the official rate, access is limited due to stringent requirements, pushing many individuals and small businesses toward the parallel market.
Economic Implications of Current Exchange Rates
The persistent gap between the official and black market exchange rates continues to impact Nigeria’s economy. It affects import costs, inflation, purchasing power, and overall economic stability.
Many importers rely on black market rates for purchasing goods, which are then priced based on the higher parallel market rate, leading to inflation and decreased consumer affordability. The government’s ongoing attempts to stabilize the exchange rate through various monetary policies have yet to significantly bridge the gap.
For a detailed breakdown of how exchange rates are affecting Nigeria’s economic outlook and the forex market, check Investors King, Nigeria’s leading financial news platform.
Conclusion
The dollar to naira exchange rate today, Thursday, 24th April 2025, highlights the widening gulf between the official rate and black market trends. As the Naira continues to struggle against the U.S. Dollar, stakeholders across the economy are urged to stay informed and strategize accordingly.
For daily updates, reliable market insights, and economic news, visit:
Investors King
Aboki Forex
Central Bank of Nigeria
Stay tuned for more updates on Nigeria’s forex market.
