Black Market Dollar To Naira Exchange Rate Today, 21st August 2025
The naira continued its downward slide at the parallel market on Thursday, 21st August 2025, with the United States dollar exchanging at ₦1,550 to $1. This figure, which reflects rates sourced from Bureau De Change (BDC) operators, once again underscores the widening gap between the official exchange window and the black market.
At the black market today, the dollar traded at ₦1,540 for buying and ₦1,550 for selling. These rates, however, are not fixed, as they fluctuate throughout the day depending on the dynamics of supply and demand, market speculation, government policy shifts, and broader economic conditions. The volatility highlights the persistent scarcity of forex that continues to burden Africa’s largest economy.
In contrast, the Central Bank of Nigeria (CBN) pegged its official rate at ₦1,533 per dollar, with commercial banks quoting slightly above that benchmark. The difference between the CBN’s official rate and the black market figure points to the pressure on the naira, reflecting deep-seated structural weaknesses in the forex market.
The British pound also remained strong against the naira in the parallel market, exchanging between ₦2,090 and ₦2,120, while the euro traded at between ₦1,770 and ₦1,790. At the official CBN window, the pound stood at about ₦2,077 for buying and ₦2,078 for selling, while the euro sold at ₦1,790 for buying and ₦1,791 for selling. Other currencies, including the Chinese yuan and Saudi riyal, exchanged at ₦213 and ₦409, respectively, further demonstrating the strain on the naira across multiple foreign denominations.
The cryptocurrency market also recorded notable figures, with one Bitcoin trading at ₦175.5 million and one Ethereum valued at about ₦6.4 million. These rates, though highly volatile, continue to attract attention from Nigerians seeking alternative means of hedging against naira depreciation.
For individuals carrying out smaller transactions, the implications are clear. Exchanging $50 today in the black market would yield around ₦77,000 at the buying rate or ₦77,500 at the selling rate. A transaction of $100 translates to about ₦154,000 when sold and ₦155,000 when bought.
Larger amounts reflect the same trend, with $500 fetching ₦770,000 at the buying rate and ₦775,000 at the selling rate, while $1,000 amounts to ₦1.54 million and ₦1.55 million, respectively.
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.
