Black Market/CBN Exchange Rate Today, 12th April, 2025
The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market, also known as black market, as of 12th April 2025, is N1,620 for 1 USD.
This rate is often sourced from the latest data provided by Bureau De Change (BDC) operators.
As of today, 12th April 2025, the black market buying rate for the US dollar is N1,610 while the selling rate is N1,620.
Given the volatility of the black market, exchange rates fluctuate throughout the day, influenced by economic conditions, speculative trading, and government fiscal and monetary policies. In contrast to the black market, the Central Bank of Nigeria (CBN) maintains an official exchange rate. Today, the CBN rate for one dollar is N1,591.84.
For other major currencies in the black market:
British Pound Sterling (GBP): Buying at ₦2000 selling at ₦2020
Euro (EUR): Buying at ₦1,655 selling at ₦1,675
Chinese Yuan (CNY): Buying at ₦215, selling at ₦220
On the official CBN platform, the rates are considerably lower:
GBP: Buying at N1990.57, selling at N1,991.86
EUR: Buying at N1659.90, selling at N1,660.99
CNY: Buying at N211.37, selling at N211.51.
For the Saudi Riyal (SAR), the official rate stands at N409.43 for buying and N409.69 for selling.
Cryptocurrency Exchange Rates
Beyond traditional forex, cryptocurrency prices continue to fluctuate. As of this report:
Bitcoin (BTC) is valued at ₦170.3 million per BTC, with ₦1 equivalent to 0.0000000068 BTC.
Ethereum (ETH) trades at ₦5.3 million per ETH, with ₦1 equivalent to 0.000000195424 ETH.
Implications of Exchange Rate Disparities
The gap between the official and parallel market rates underscores the challenges in Nigeria’s forex system. Persistent disparities highlight the pressure on the naira, forex supply constraints, and the struggles businesses and individuals face in sourcing foreign currency for legitimate transactions air jordan 4 military blue 2024.
Foreign exchange rates also vary across commercial banks and international money transfer operators.
These discrepancies create arbitrage opportunities but also pose serious challenges for businesses reliant on stable forex access. Addressing these fluctuations and fostering Nike Pegasus 41: The Next Generation – nike air mags mens limited edition – nike flyknit racer black white yellow caterpillar stability remains a key priority for policymakers in Nigeria.
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.
