The Dollar to Naira exchange rate in the black market witnessed a slight appreciation in the value of the Naira as demand pressure eased marginally.
As of today, Tuesday, May 13th 2025, the exchange rate reflects moderated volatility compared to previous sessions, offering temporary relief for traders and importers relying on the parallel market.
Dollar to Naira Exchange Rate Today – Black Market
According to street traders and data compiled from Aboki Forex, the black market Dollar to Naira exchange rate stands as follows:
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Buying Rate: ₦1,600 per US Dollar
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Selling Rate: ₦1,610 per US Dollar
The ₦10 spread reflects a stable trading margin and suggests slight improvements in forex availability among parallel market dealers.
How Much is Dollar to Naira Today in Black Market?
For those asking, how much is dollar to naira today in black market?, the rate as of Tuesday, May 13th 2025 is ₦1,610 for selling and ₦1,600 for buying. These rates may vary slightly depending on location and transaction volume but remain largely consistent across major currency hubs in Lagos, Abuja, Kano, and Port Harcourt.
Dollar to Naira: Black Market vs Official Rate
The black market continues to operate at a premium to the official rate provided by the Central Bank of Nigeria (CBN), which currently stands around ₦1,470/$1. This reflects a spread of approximately ₦140, emphasizing ongoing inefficiencies in the official foreign exchange allocation system.
Businesses and individuals unable to access the official window continue to rely heavily on the black market to meet their dollar requirements for imports, travel, tuition, and remittances.
For accurate market insights and economic updates, visit Investors King.
Key Drivers of Today’s Black Market Dollar to Naira Rate
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Improved Liquidity: Slight improvements in dollar inflow from remittances and exports are helping ease pressure in the informal market.
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Import-Driven Demand: Continued demand from manufacturers and traders keeps the black market active, although it is slightly subdued this week.
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Speculative Activity: Reduced hoarding of forex suggests growing confidence that the Naira may stabilize in the short term.
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Policy Anticipation: Investors and currency dealers are closely watching for announcements from the Central Bank of Nigeria, especially regarding interest rates and monetary policy direction.
What to Expect in the Coming Days
Despite today’s brief Naira recovery in the parallel market, analysts maintain a cautious outlook. Market participants expect exchange rate pressure to persist until forex inflows from foreign direct investment, crude oil exports, and remittances increase significantly. The next Monetary Policy Committee (MPC) decision will also play a role in shaping expectations.
The CBN is expected to maintain its tight monetary stance to curb inflation and stabilize the currency. However, without structural reforms to improve forex liquidity, the Naira may remain vulnerable.
Conclusion
As of Tuesday, May 13th 2025, the black market Dollar to Naira exchange rate is ₦1,610 for selling and ₦1,600 for buying. The moderate appreciation of the Naira offers temporary relief but does not eliminate the structural imbalance between forex demand and supply in Nigeria.
To stay informed on daily Dollar to Naira rates, economic policies, and forex market analysis, visit Investors King.
Disclaimer: Black market exchange rates are subject to change and may vary by location and transaction size. Always confirm current rates before completing any forex transaction.
