Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 25th August 2025

The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to dominate public discourse as economic pressures persist in Nigeria. As of today, Monday, 25th August 2025, the black market, popularly referred to as the parallel market, pegs the rate of one US dollar at ₦1,550.

This figure is based on information obtained from reliable Bureau De Change (BDC) operators who monitor daily forex movements across major Nigerian cities.

Unlike the official rates maintained by the Central Bank of Nigeria (CBN), the black market rates are driven by demand and supply dynamics in the informal currency exchange market. The CBN today puts the official rate for one dollar at ₦1,535, which leaves a noticeable gap compared to the parallel market figures.

The disparity continues to highlight the pressure on the naira and the struggles of the Nigerian economy in stabilising its foreign exchange system.

In today’s trading, the black market buying rate for one US dollar stands at ₦1,540, while the selling rate is ₦1,550. These figures fluctuate frequently throughout the day as a result of speculation, market uncertainty, inflationary pressures, and policy directions from government authorities.

Nigeria’s persistent foreign exchange shortages and heavy reliance on imports remain some of the key drivers of this volatility.

Beyond the dollar, other foreign currencies are also seeing significant fluctuations in the black market. The British Pound Sterling today trades at around ₦2,090 to ₦2,120, while the Euro exchanges for approximately ₦1,770 to ₦1,790. The Chinese Yuan (CNY) is valued at an average of ₦213, while the Saudi Riyal (SAR) exchanges at about ₦409. These rates reflect the broader trend of naira depreciation across multiple currencies, not just against the dollar.

On the official CBN window, however, the exchange rates remain relatively lower. The dollar is officially priced at just above ₦1,535, while the Pound Sterling is pegged at roughly ₦2,078, and the Euro trades near ₦1,791. While the government insists on stabilising the official market through interventions, the wide gap with the parallel market has created avenues for arbitrage, often exploited by traders and middlemen.

Interestingly, digital currencies are also gaining attention in Nigeria’s forex landscape. At the time of reporting, Bitcoin trades at approximately ₦179.5 million per coin, while one Ethereum token is valued at about ₦7.4 million. Many Nigerians increasingly turn to cryptocurrencies as a hedge against naira devaluation, despite regulatory uncertainty around their use.

For individuals carrying out smaller transactions, today’s black market rate has practical implications. Exchanging 50 US dollars will yield about ₦77,000 at the buying rate of ₦1,540 per dollar, while it will cost around ₦77,500 at the selling rate of ₦1,550.

Similarly, converting 100 US dollars in the black market today gives ₦154,000 for sellers, while buyers would need to part with ₦155,000.

For larger transactions, the figures become even more telling. Exchanging 500 US dollars today amounts to about ₦770,000 at the buying rate and ₦775,000 at the selling rate. On the other hand, anyone needing up to 1,000 US dollars will require a substantial ₦1,550,000 at the selling rate, while selling the same amount will fetch around ₦1,540,000.

These figures illustrate how the rising dollar value is impacting businesses, importers, and travellers who rely heavily on foreign currencies.

Overall, Nigeria’s foreign exchange market remains highly fragmented, with commercial banks, international money transfer operators, and fintech platforms all offering different rates. This lack of uniformity continues to create distortions, limit investor confidence, and put additional strain on individuals and businesses in need of forex for legitimate purposes.

Sodiq Lawal

Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.

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