The Nigerian Naira maintained its firm position against the United States dollar in the parallel market on Wednesday, continuing a steady streak of appreciation that began earlier in the week.
As of October 29th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,455 per dollar for buying and ₦1,465 per dollar for selling, according to traders surveyed across major commercial hubs in Lagos and Abuja.
The Naira’s improved performance comes amid growing confidence in the foreign exchange market, driven by sustained remittance inflows, steady oil earnings, and reduced speculative activity. Market participants say that dollar supply has remained relatively stable, helping to ease pressure on the local currency.
Black Market Dollar to Naira Rate Overview
| Date |
Market Type |
Buying (₦) |
Selling (₦) |
Change |
| Wednesday, Oct 29, 2025 |
Black Market |
1,455 |
1,465 |
+₦5 ▲ |
| Tuesday, Oct 28, 2025 |
Black Market |
1,450 |
1,460 |
— |
| Official (CBN) |
— |
— |
— |
See CBN |
Exchange rates confirmed by Investors King.
How Much Is Dollar to Naira Today in Black Market
As of this morning, the Dollar to Naira Black Market exchange rate is ₦1,455 for buying and ₦1,465 for selling. This represents a stable continuation of the Naira’s performance from the previous day, with dealers attributing the trend to consistent dollar inflows from remittances and improved confidence among market participants.
Traders note that the market has experienced fewer speculative spikes, a development that has helped to keep rates within a narrow range this week. For verified official rates, visit the Central Bank of Nigeria (CBN).
Factors Driving the Naira’s Stability
Several factors have contributed to the Naira’s recent resilience in the black market:
-
Improved Dollar Liquidity: Steady inflows from oil exports and remittances have helped to meet rising forex demand.
-
Reduced Speculation: Currency traders are exercising caution following several weeks of tighter market monitoring and reduced volatility.
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Stable Oil Prices: With crude oil prices averaging above $83 per barrel, Nigeria’s foreign reserves have benefited from improved inflows.
-
Increased Confidence: Businesses and individuals are showing more confidence in the Naira as liquidity gradually improves.
-
Seasonal Demand Trends: The absence of major import surges this period has helped to stabilize demand for foreign currency.
Although the Naira’s gains are encouraging, analysts caution that lasting stability will depend on sustained inflows and consistent government policy execution.
Economic Implications
The recent appreciation in the Dollar to Naira Black Market rate has provided mild relief across various sectors:
-
Importers: The lower exchange rate slightly reduces the cost of imported goods, helping to ease inflationary pressures.
-
Consumers: A stronger Naira helps to moderate price increases on essential goods and commodities.
-
Students and Travelers: The decline in black market rates reduces the cost of tuition and travel expenses for Nigerians abroad.
-
Investors: Improved forex stability could attract more short-term capital inflows into Nigeria’s financial markets.
Still, the exchange-rate gap between the official and parallel markets remains a significant concern, as it creates inefficiencies that impact trade and investment decisions.
Market Outlook
Analysts expect the Naira to remain within the ₦1,450 to ₦1,470 per dollar range in the short term, provided that dollar inflows remain stable and speculative demand stays low. Market confidence continues to grow, but experts emphasize that long-term improvement will depend on broader economic reforms, export diversification, and policy transparency.
If the Central Bank sustains its efforts to improve forex liquidity and strengthen market oversight, the Naira could maintain its current stability through the end of the month.
Conclusion
The Dollar to Naira Black Market exchange rate today, Wednesday, October 29th 2025, stands at ₦1,455 for buying and ₦1,465 for selling, showing a consistent performance for the local currency.
For verified and real-time updates on Dollar to Naira, visit Investors King, Aboki Forex, and the CBN.
While the Naira’s steady appreciation offers short-term relief, achieving long-term stability will depend on sustained policy reforms, diversified revenue generation, and improved dollar supply to reduce reliance on the black market.
