Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 22nd August 2025

As of today, Friday, 22nd August 2025, the exchange rate for the United States dollar (USD) against the Nigerian naira (NGN) in the parallel market, commonly referred to as the black market, stands at ₦1,550 per dollar. This figure is largely derived from data provided by Bureau De Change (BDC) operators and reflects real-time transactions outside the official banking system.

The black market buying rate for the dollar today is around ₦1,540, while the selling rate is pegged at ₦1,550. These figures often shift within the day, depending on the pressures of demand and supply in the informal foreign exchange space. Factors such as government monetary policies, economic uncertainty, and speculation in the market play a critical role in these fluctuations.

In comparison, the Central Bank of Nigeria (CBN) continues to maintain a lower official exchange rate. As at today, the apex bank quotes the naira at approximately ₦1,536 per dollar, which is slightly below the parallel market value.

The persistent disparity between official rates and those in the black market not only underscores the pressure on the naira but also reflects the difficulty businesses and individuals face in accessing foreign exchange through official channels.

Other currencies also show similar gaps. For instance, the British pound currently trades at about ₦2,090 to ₦2,120 in the black market, while the euro is exchanged at roughly ₦1,770 to ₦1,790. On the CBN side, the pound is officially priced at around ₦2,077, and the euro at ₦1,790, further emphasising the inconsistencies across different platforms.

Beyond fiat currencies, cryptocurrency values in naira remain on the rise. At the time of reporting, one bitcoin (BTC) is valued at approximately ₦175.5 million, while one ethereum (ETH) trades at around ₦6.7 million. These digital assets have become an alternative hedge for many Nigerians against the naira’s decline, although their volatility remains a significant risk.

To put the rates into perspective, exchanging 50 dollars at today’s black market buying rate of ₦1,540 per dollar gives about ₦77,000, while buying the same amount at the selling rate costs around ₦77,500. A transaction involving 100 dollars translates to about ₦154,000 at the buying rate, and ₦155,000 for those purchasing dollars.

For larger sums, the figures become more staggering. Converting 500 dollars yields approximately ₦770,000 at the buying rate and ₦775,000 at the selling rate, while an exchange of 1,000 dollars in the black market amounts to about ₦1.54 million on the buying side and ₦1.55 million when purchased. These rates highlight the heavy financial burden for businesses, students studying abroad, importers, and travellers who rely on foreign currencies for legitimate needs.

Sodiq Yusuf

Sodiq Yusuf is a trained media practitioner and journalist with considerable years of experience in print, broadcast, and digital journalism. His interests cover a wide range of causes in politics, governance, sports, community development, and good governance.

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