The Nigerian Naira depreciated slightly against the U.S. Dollar in the black market on Wednesday, June 11th, 2025, as increased demand for foreign exchange continues to put pressure on the parallel market.
marginal loss in value reflects ongoing forex shortages, inflation concerns, and limited access to official channels for most Nigerians.
According to currency dealers in Lagos, Abuja, and Kano, the Dollar to Naira black market exchange rate today stands at:
Buying Rate: ₦1,600 per $1
Selling Rate: ₦1,610 per $1
These rates indicate a ₦10 increase from the previous day’s range, showing signs of renewed volatility in the informal forex market despite earlier stability.
How Much Is Dollar to Naira Today in Black Market?
Nigerians asking, “how much is dollar to naira today in black market?”, are often individuals and businesses trying to secure dollars for school fees, medical bills, imports, and international travel. As of Wednesday, June 11, 2025, the black market rate is ₦1,600 per dollar for buying and ₦1,610 per dollar for selling.
These rates are consistent across key trading centers but may vary slightly depending on transaction volume and location. For reliable and up-to-date exchange rates, platforms like Investors King and Aboki Forex offer trusted daily updates.
Black Market vs. CBN Official Exchange Rate
The official exchange rate from the Central Bank of Nigeria (CBN) remains significantly lower than the black market rate. As of the latest figures, the CBN rate hovers around ₦1,575 to ₦1,585 per dollar.
However, the availability of foreign exchange at the official window is still limited and subject to strict conditions.
Due to this, the black market remains the most accessible avenue for many Nigerians to source forex quickly, albeit at higher rates.
The growing divergence between official and black market rates highlights the ongoing inefficiencies in Nigeria’s forex allocation system.
Why the Black Market Rate Is Rising Again
Several factors continue to drive the dollar’s rise in the black market:
-
Forex Shortage: The CBN’s limited allocation of dollars through official windows forces many Nigerians to turn to the black market.
-
Import Pressure: Nigeria’s heavy reliance on imported goods maintains strong demand for the dollar.
-
Inflation and Devaluation: As inflation erodes the value of the Naira, businesses and individuals hedge against further losses by converting to foreign currency.
-
Uncertainty Around Economic Policy: Lack of consistency in monetary policy and exchange rate management continues to affect investor confidence and fuel speculative activity.
-
Preference for Informal Channels: Many remittances from the diaspora are routed through the black market due to more favorable exchange rates.
These factors make the black market the most active and realistic source of foreign currency, especially for small businesses and everyday consumers.
Outlook for the Naira
Despite government and CBN efforts to stabilize the foreign exchange market, analysts expect continued volatility unless structural reforms are implemented. Oil revenue, foreign direct investment, and reserve levels will remain key drivers of Nigeria’s exchange rate outlook in the coming weeks.
Until then, the black market will continue to reflect the real dynamics of forex demand and supply in the country.
To monitor daily exchange rate movements and financial news, follow Investors King. For updated black market exchange rates, visit Aboki Forex. For official CBN data and regulatory policies, check the CBN website.
Conclusion
For Wednesday, June 11th, 2025, the Dollar to Naira black market exchange rate is:
₦1,600 per dollar for buying
₦1,610 per dollar for selling
With forex scarcity and economic uncertainty still dominating the market, the black market remains the most accessible option for Nigerians in need of foreign currency. Staying informed about exchange rate movements is essential for planning and financial decision-making.
