The Nigerian Naira recorded a slight decline against the United States dollar in the parallel market to close the week weaker than the previous session.
On Friday, October 10th, 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,470 per dollar for buying and ₦1,480 per dollar for selling.
This depreciation highlights the ongoing pressure on the local currency, driven by high demand for dollars among importers, travelers, and business operators amid limited liquidity in the official forex window. Despite recent policy actions by the Central Bank of Nigeria (CBN), the gap between official and black market rates remains wide.
How Much is Dollar to Naira Today in Black Market
As of today, Friday, October 10th, 2025, the Dollar to Naira Black Market exchange rate is as follows:
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Buying Rate: ₦1,470 per $1
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Selling Rate: ₦1,480 per $1
These rates represent average figures obtained from major parallel market dealers across Lagos, Abuja, and Port Harcourt. Traders reported continued demand for foreign exchange for import and personal use, keeping the market active throughout the week.
For verified official exchange rates, refer to the Central Bank of Nigeria (CBN).
Dollar to Naira Black Market vs Official Rate
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Black Market Rate: ₦1,470 / ₦1,480
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Official Rate (CBN): Updated daily on the CBN website.
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Market Monitoring Platforms: Reputable financial sources like Investors King and Aboki Forex provide daily updates on Dollar to Naira Black Market movements and trends.
The persistent difference between both markets reflects ongoing challenges in Nigeria’s forex management and the continued scarcity of dollars at official channels.
Economic Implications
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Import Costs: Businesses dependent on imported materials face rising costs, contributing to inflation across key sectors.
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Consumers: Elevated forex prices drive up the cost of goods and services, further straining purchasing power.
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Investors: Market volatility affects investor confidence, discouraging long-term investment inflows.
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Education and Travel: Nigerians paying tuition or traveling abroad continue to bear the burden of high conversion rates in the black market.
Factors Influencing the Dollar to Naira Black Market Rate
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Limited Forex Supply: Reduced access to official foreign exchange sources sustains black market activity.
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Speculation and Hoarding: Uncertainty about future Naira performance prompts increased dollar purchases.
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Oil Revenue Fluctuations: Variations in global crude prices directly impact Nigeria’s foreign reserves and liquidity.
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Inflation and Monetary Policy: Persistent inflation and changing CBN policies add to market instability.
Market Outlook
Analysts expect the Naira to trade within a narrow range in the coming week as market participants await new CBN interventions and potential remittance inflows. However, continued dollar demand pressure may limit any significant short-term gains.
The long-term outlook depends on Nigeria’s ability to boost non-oil exports, attract foreign investment, and stabilize macroeconomic indicators.
Conclusion
The Dollar to Naira Black Market exchange rate today, Friday, October 10th, 2025, stands at ₦1,470 for buying and ₦1,480 for selling. The Naira’s continued volatility underscores the urgent need for structural reforms and consistent forex management strategies.
For real-time updates and reliable market insights on Dollar to Naira, visit Investors King, Aboki Forex, and the CBN.
As Nigeria closes the week, the Naira’s performance reflects a delicate balance between market forces, limited supply, and persistent demand pressures — setting the tone for what could be another cautious trading week ahead.
