Black Market Dollar To Naira Exchange Rate Today – 9th August 2025
The United States dollar exchanged for ₦1,565 at the parallel market, otherwise known as the black market, on Friday, 8th August 2025. Data obtained from Bureau De Change operators showed that the buying rate stood at ₦1,555 per dollar, while the selling rate was ₦1,565.
As has become the norm, the black market rates remain significantly higher than the official figures released by the Central Bank of Nigeria (CBN). The apex bank’s official rate for the dollar is ₦1,533.10, with a buying price of ₦1,532.10. The pound sterling exchanged at ₦2,037.03 (₦2,035.70 buying), while the euro sold for ₦1,770.58 (₦1,769.42 buying).
Other official CBN rates include the Chinese yuan at ₦213.33 and the Saudi riyal at ₦408.60.
Forex traders say the persistent gap between the official and parallel market rates is driven by limited dollar supply, rising demand, speculative activities, and Nigeria’s broader economic challenges.
This volatility affects individuals and businesses needing foreign currency for travel, imports, and other international transactions. In cryptocurrency trading, bitcoin stood at about ₦183.2 million per BTC, while ethereum was valued at ₦6.3 million per ETH.
At the black market, converting $50 fetches about ₦77,750 at the buying rate and costs ₦78,250 at the selling rate. A $100 transaction translates to ₦155,500 and ₦156,500, respectively, while $500 yields ₦777,500 (buying) and ₦782,500 (selling). For $1,000, traders offer ₦1,555,000 at buying and ₦1,565,000 at selling, reflecting the pressure on the naira in Nigeria’s forex ecosystem.
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.
