Black Market Dollar To Naira Exchange Rate Today – 7th August 2025
The exchange rate between the United States dollar and the Nigerian naira in the parallel market, commonly referred to as the black market, has been pegged at ₦1,570 per $1 as of Thursday, 7th August 2025.
According to sources among Bureau De Change (BDC) operators, the dollar is bought at ₦1,560 and sold at ₦1,570 on the streets. These rates are not fixed and often fluctuate throughout the day, driven by prevailing economic conditions, speculation, and government policy shifts.
In comparison, the official rate published by the Central Bank of Nigeria (CBN) today remains ₦1,534 to the dollar, highlighting the continuing gap between official and unofficial markets. The growing disparity underscores the sustained pressure on the naira and deep-rooted instability in Nigeria’s foreign exchange framework.
Other major foreign currencies are also trading at significantly high values in the parallel market. The British pound sterling is selling between ₦2,090 and ₦2,120, while the euro trades within the range of ₦1,770 to ₦1,790. These figures reflect the ongoing demand for foreign currency, especially from importers, international travellers, and students.
In the official window, the CBN quotes the pound sterling at ₦2,037.89 (buying) and ₦2,039.22 (selling), while the euro is listed at ₦1,759.56 (buying) and ₦1,760.70 (selling). The Chinese yuan stands at ₦213.60 (buying) and ₦213.74 (selling), while the Saudi riyal is ₦408.69 (buying) and ₦408.95 (selling).
In the cryptocurrency market, Bitcoin is currently valued at approximately ₦180 million per BTC, with one naira equalling 0.0000200078 BTC. Ethereum trades at ₦5.8 million per ETH, translating to 0.00000034 ETH per naira.
For those dealing in cash, the equivalent of $50 in today’s black market is around ₦77,500 at the buying rate and ₦78,000 at the selling rate. A transaction of $100 will fetch ₦155,000 if sold and cost ₦156,000 if purchased. At a higher scale, $500 equals ₦775,000 (buying) and ₦780,000 (selling), while $1,000 amounts to ₦1,550,000 and ₦1,560,000, respectively.
The persistent variations in exchange rates across different platforms — including black market operators, the CBN, commercial banks, and international money transfer services — continue to create opportunities for arbitrage.
However, they also pose significant challenges for businesses and individuals seeking foreign currency for legitimate purposes.
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.
