The Nigerian Naira maintained slight stability against the United States Dollar in the black market today, Thursday, July 3rd, 2025, continuing the mild upward trend recorded since the beginning of the month.
While demand for foreign currency remains strong, the modest gain suggests traders and buyers are holding back ahead of possible new policy signals from the Central Bank of Nigeria (CBN).
According to black market currency dealers in Lagos, Abuja, Port Harcourt, and Kano, the Dollar to Naira black market exchange rate today is:
Buying Rate: ₦1,568 per $1
Selling Rate: ₦1,578 per $1
The ₦10 spread reflects steady demand and moderate availability, with traders reporting stable activity across parallel market hubs.
How Much Is Dollar to Naira Today in Black Market?
One of the most searched queries remains, “how much is dollar to naira today in black market?” for Nigerians paying international school fees, medical bills, travel costs, or funding small business imports.
As of Thursday, July 3rd, 2025, the Dollar to Naira black market exchange rate stands at ₦1,568 per dollar for buying and ₦1,578 per dollar for selling. These figures represent average street-level rates but can vary slightly depending on location, volume, and negotiation with local dealers.
For verified daily rates and reliable forex market insights, platforms like Investors King and Aboki Forex remain trusted by individuals and small businesses. The Central Bank of Nigeria (CBN) also publishes the official exchange rate daily for comparison.
Dollar to Naira: Black Market vs. Official CBN Rate
While the black market remains the primary source of foreign exchange for millions of Nigerians, the Central Bank of Nigeria (CBN) continues to guide the official Dollar to Naira exchange rate, which is lower than the parallel market.
As of today, the CBN official exchange rate sits around ₦1,550 to ₦1,560 per dollar, depending on the transaction window and approved sector. However, strict documentation requirements, limited allocations, and slow disbursement mean the bulk of everyday buyers cannot access dollars at this rate. This gap keeps the black market active and influential as the practical benchmark for the real economy.
Why the Black Market Rate Remains Key
Despite this week’s mild appreciation for the Naira, several factors ensure the black market remains the primary avenue for retail forex access:
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Restricted Supply: Commercial banks and licensed FX dealers often lack enough dollars to meet demand.
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Import-Driven Demand: Nigeria’s economy depends heavily on imports, driving constant demand for foreign currency.
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Rising Inflation: Many Nigerians store value in dollars to hedge against the weak Naira and eroding purchasing power.
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Informal Remittances: Diaspora inflows frequently bypass official channels due to better rates in the black market.
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Speculation: Hoarding of dollars by traders and businesses adds further pressure to informal supply.
Until Nigeria attracts more stable non-oil dollar inflows, boosts investor confidence, and harmonises its FX market structure, the black market will continue to reflect the true demand for foreign exchange.
Short-Term Outlook for the Naira
Market analysts believe the slight gain this week could hold if dollar inflows improve through oil sales, foreign investment, or tighter monetary policy. However, without stronger FX reserves or broader reforms, pressure on the Naira may resurface if demand spikes.
Businesses and individuals should stay informed through verified updates. For daily economic news, visit Investors King. For live black market rates, check Aboki Forex. For official benchmarks and policy actions, follow the CBN.
Conclusion
For Thursday, July 3rd, 2025, the Black Market Dollar to Naira exchange rate is:
₦1,568 per dollar for buying
₦1,578 per dollar for selling
While the Naira’s modest gain brings slight relief to traders and buyers, the gap between the black market and official rates highlights Nigeria’s ongoing foreign exchange challenges. For now, the parallel market remains the practical source for securing dollars quickly.
