The Naira continued to struggle in the foreign exchange market as the black market exchange rate showed persistent pressure on Nigeria’s local currency.
As of today, Tuesday, May 27th, 2025, the exchange rate for the United States Dollar to the Naira in the black market remains volatile, reflecting strong demand for dollars against limited supply.
Foreign exchange traders and currency dealers in Lagos and other major cities in Nigeria are reporting the following rates:
| Currency |
Buying Rate (₦) |
Selling Rate (₦) |
| Dollar to Naira |
1,615 |
1,625 |
These rates indicate continued depreciation of the Naira in the unofficial market, with traders noting sustained pressure due to high demand from importers, students, and individuals planning foreign trips.
How Much Is Dollar to Naira Today in Black Market?
The question “how much is dollar to naira today in black market” remains one of the most searched queries by Nigerians, reflecting the importance of the parallel market for many individuals and businesses.
As of Tuesday, May 27, 2025, the black market buying rate is ₦1,615 per dollar, while the selling rate stands at ₦1,625. These rates can vary slightly depending on location and volume of transaction, but the spread remains within this range across major trading hubs.
Nigerians continue to rely heavily on the black market for their foreign exchange needs, especially due to limited access to official rates from the Central Bank of Nigeria (CBN).
Official vs. Black Market Exchange Rate
While the black market reflects market-driven realities of supply and demand, the Central Bank of Nigeria (CBN) continues to provide official exchange rates used for selected government-approved transactions and import categories.
The divergence between official rates and black market rates has widened in recent months, making the parallel market a key reference point for many Nigerians. The official exchange rate typically lags behind the black market, which reacts more swiftly to economic news, forex supply shifts, and global monetary policy actions.
Why the Black Market Matters
The black market (also known as the parallel market) serves as the primary source of foreign exchange for individuals and businesses who cannot meet requirements to access FX through the official channels. Despite government efforts to unify exchange rates, the FX scarcity at official windows makes the black market a more realistic source for many Nigerians.
Key drivers of the black market rates include:
-
Persistent demand from importers and travelers
-
Shortage of foreign exchange from official windows
-
Delays in accessing Form A and Form M through banks
-
Global oil price fluctuations and their impact on Nigeria’s forex earnings
-
Economic policies that affect investor confidence and capital inflows
Market Outlook and What to Expect
The current trend suggests that the Naira could face further pressure unless key reforms are implemented to boost Nigeria’s foreign reserve, improve investor sentiment, and stimulate export-driven inflows.
Industry analysts tracking the FX situation on platforms like Aboki Forex and Investors King note that barring a major intervention, black market rates could remain elevated throughout the second quarter of 2025.
Conclusion
For today, Tuesday, May 27, 2025, the Dollar to Naira black market exchange rate stands at:
-
₦1,615/$1 (Buying)
-
₦1,625/$1 (Selling)
As Nigerians navigate these turbulent FX waters, constant monitoring of rates through reliable platforms like Investors King and Aboki Forex remains crucial. For long-term stability, stakeholders continue to call for increased FX liquidity, policy consistency, and robust economic reforms.
Stay updated with Investors King for accurate daily exchange rates, financial news, and economic analysis.
