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| Central Bank of Nigeria currently trades around ₦1,361 to ₦1,364 per dollar at the Nigerian Foreign Exchange Market (NFEM). |
The Dollar to Naira black market exchange rate in Nigeria remains one of the most searched financial topics online.
Many Nigerians check the parallel market rate daily to know the current value of the US Dollar against the Nigerian Naira for business, travel, school fees, online payments, importation, and savings.
As of today, the Dollar to Naira black market exchange rate is approximately:
Buying Rate: ₦1,385 per $1
Selling Rate: ₦1,395 – ₦1,400 per $1
Rates may vary depending on location, dealer, and transaction amount in cities like Lagos, Abuja, Port Harcourt, and Kano.
Dollar to Naira Black Market Rate Today
Dollar Amount Naira Value
$1 ₦1,395
$5 ₦6,975
$10 ₦13,950
$20 ₦27,900
$50 ₦69,750
$100 ₦139,500
$500 ₦697,500
$1000 ₦1,395,000.
The exchange rate changes daily based on demand and supply in Nigeria’s forex market.
Official CBN Dollar to Naira Rate
The official exchange rate from the Central Bank of Nigeria currently trades around ₦1,361 to ₦1,364 per dollar at the Nigerian Foreign Exchange Market (NFEM).
There is still a gap between the official market rate and the black market rate due to high demand for foreign currency and limited dollar supply.
Why the Dollar to Naira Rate Keeps Rising
Several factors affect the black market exchange rate in Nigeria:
1. High Demand for Dollars
Importers, travelers, students, and online businesses constantly need US dollars for international transactions.
2. Limited Forex Supply
Many Nigerians cannot access enough dollars through banks, forcing them to use the parallel market.
3. Inflation and Economic Pressure
Nigeria’s inflation and foreign exchange shortages continue to weaken the naira.
4. Import Dependency
Nigeria imports many products from abroad, increasing pressure on dollar demand.
Difference Between Official and Black Market Dollar Rate
The official rate is regulated by the Central Bank of Nigeria, while the black market rate is determined by street forex dealers and Bureau De Change operators.
Black market rates are usually higher because they reflect real-time demand and supply conditions.
Is the Naira Appreciating or Depreciating?
Recent reports show that the naira has experienced slight stability this week, with small gains in the official market and moderate fluctuations in the black market.
However, forex analysts believe the naira may continue facing pressure if dollar demand remains high.
Where Nigerians Check Dollar to Naira Rates Daily
Popular platforms Nigerians use to monitor exchange rates include:
CBN Exchange Rates
Aboki Forex
NGN Rates
The Dollar to Naira black market exchange rate today ranges around ₦1,385 to ₦1,400 per dollar in Nigeria.
The forex market remains volatile, and rates can change multiple times daily depending on demand, supply, and economic conditions.
For Nigerians involved in importation, freelancing, international payments, or online business, staying updated with the latest Dollar to Naira exchange rate is essential for better financial decisions.
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