The Nigerian Naira recorded a slight gain against the United States Dollar in the black market today, Thursday, June 19th, 2025.
The improvement comes after a brief period of depreciation, reflecting a minor easing of demand pressure in Nigeria’s informal foreign exchange sector. Although marginal, today’s appreciation provides some relief for individuals and small businesses relying on the parallel market to meet their forex needs.
According to currency traders operating in Lagos, Abuja, Kano, and Port Harcourt, the current Dollar to Naira black market exchange rate is:
Buying Rate: ₦1,580 per $1
Selling Rate: ₦1,590 per $1
This slight decline from the previous day’s rate reflects improved liquidity in the informal market and stabilized demand from key sectors.
How Much Is Dollar to Naira Today in Black Market?
A popular query among forex traders, importers, and everyday Nigerians is, “how much is dollar to naira today in black market?”. As of Thursday, June 19, 2025, the Naira is trading at ₦1,580 per dollar for buying and ₦1,590 per dollar for selling in the black market. These rates may vary slightly depending on location and volume, but they are consistent across major currency exchange hubs.
To access accurate and up-to-date information, platforms like Investors King and Aboki Forex provide trusted daily updates on black market exchange rates.
Black Market vs. Official CBN Exchange Rate
The Central Bank of Nigeria (CBN) continues to maintain an official exchange rate that remains significantly lower than the black market rate. As of today, the CBN rate ranges between ₦1,570 and ₦1,580 per dollar. However, due to limited dollar availability and regulatory hurdles, access to foreign exchange at official windows remains restricted.
This persistent access gap keeps the black market active and dominant, as it offers quicker and more flexible exchange options for those unable to meet CBN’s strict criteria.
Why the Black Market Rate Remains Relevant
Several macroeconomic and policy challenges continue to fuel the strength and relevance of the black market in Nigeria:
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Limited Access to Official Forex: Most individuals and small-scale businesses cannot meet the documentation requirements for accessing forex through banks.
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Import-Driven Economy: Nigeria’s dependence on imports sustains continuous dollar demand in the informal market.
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Currency Devaluation and Inflation: The weakening value of the Naira and rising inflation push many to preserve value by converting to dollars.
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Informal Remittance Channels: A growing volume of diaspora remittances flows through informal markets that offer better rates.
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Speculative Activity: Uncertainty around monetary policy and inconsistent FX reforms encourage hoarding and speculation in the black market.
Until these issues are addressed, the black market will continue to serve as the primary source of forex for a large portion of the population.
Outlook for the Naira
Analysts warn that although today’s appreciation is positive, long-term stability depends on consistent FX inflows, improved oil revenue performance, and bold structural reforms. Without stronger foreign reserve buffers and harmonized policy implementation, the Naira may continue to experience short-term gains and losses in the parallel market.
Stakeholders are advised to monitor trusted platforms like Investors King for in-depth analysis, check Aboki Forex for live market rates, and consult the CBN for official policy updates and exchange rate benchmarks.
Conclusion
For Thursday, June 19th, 2025, the Black Market Dollar to Naira exchange rate is:
₦1,580 per dollar for buying
₦1,590 per dollar for selling
While the Naira’s slight appreciation today offers some optimism, the broader forex environment remains vulnerable. The black market continues to reflect the realities of demand and supply in Nigeria’s foreign exchange ecosystem, especially for those excluded from the official market.
