The Nigerian Naira posted a marginal gain against the U.S. Dollar in the black market on Wednesday, June 25th, 2025, as foreign exchange demand eased slightly among importers and individual users.
The minor appreciation comes amid efforts by the Central Bank of Nigeria (CBN) to stabilize the exchange rate and curb speculative activity.
According to street traders and parallel market dealers in Lagos, Abuja, Port Harcourt, and other major cities, the Dollar to Naira black market exchange rate is currently:
Buying Rate: ₦1,580 per $1
Selling Rate: ₦1,590 per $1
These rates reflect a ₦5 drop from Tuesday’s figures, signaling improved liquidity and a short-term cooling in speculative pressure.
How Much Is Dollar to Naira Today in Black Market?
A frequently searched question is, “how much is dollar to naira today in black market?” As of Wednesday, June 25, 2025, the Naira is exchanging at ₦1,580 per dollar for buying and ₦1,590 for selling in the black market. These values are based on average pricing across major informal forex markets in Nigeria.
For the most up-to-date rates and forex market trends, reliable sources like Investors King, Aboki Forex, and the official CBN portal provide accurate and timely data.
Dollar to Naira: Black Market vs. Official CBN Rate
The Central Bank of Nigeria (CBN) continues to manage the official Dollar to Naira exchange rate within a narrower band, currently averaging between ₦1,570 and ₦1,580 per dollar. Despite the CBN’s efforts to unify the exchange rate system, access to the official window remains limited for most Nigerians due to tight supply and regulatory requirements.
The persistent gap between the CBN rate and black market pricing has kept the parallel market active, as importers, students, and travelers depend on it to meet urgent forex needs.
Why the Black Market Rate Remains Strong
The following factors continue to support high demand in the black market:
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Restricted Dollar Supply: Limited availability through official channels pushes demand to the informal market.
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Import-Driven Economy: A heavy reliance on foreign goods means businesses need steady forex access.
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High Inflation: Nigerians turn to the dollar as a hedge against the weakening Naira.
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Diaspora Remittances: Informal inflows continue to favor black market channels due to better rates.
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Speculation: Traders anticipating further Naira devaluation hoard dollars, causing supply constraints.
Despite temporary rate drops, these structural issues ensure the black market remains an indispensable part of Nigeria’s forex ecosystem.
Market Outlook
Although today’s appreciation offers short-term relief, analysts maintain a cautious outlook. The sustainability of the current black market rate depends on improved foreign inflows, stronger oil earnings, and fiscal stability.
CBN’s current strategies—including tighter monetary policy and intervention in the FX market—have helped slow depreciation. However, without long-term reforms and increased FX supply, the Dollar to Naira black market rate will remain highly sensitive to local and global economic developments.
