Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – 26th August 2025
The exchange rate between the United States dollar (USD) and the Nigerian naira (NGN) in the parallel market, popularly referred to as the black market, stood at ₦1,550 per $1 as of Tuesday, 26th August 2025.
This figure is largely sourced from data provided by Bureau De Change (BDC) operators across different trading hubs in the country.
Due to the volatile nature of supply and demand in the informal foreign exchange market, the Central Bank of Nigeria’s (CBN) official rate usually differs significantly from the black market rate.
As of today, the black market buying rate for the dollar is ₦1,540, while the selling rate is ₦1,545. These rates are subject to intraday fluctuations, driven by economic pressures, speculative trading, and government monetary policies.
In contrast, the CBN maintains its own official exchange rate. Today, the apex bank pegs the dollar at ₦1,535. The gap between this official rate and that of the black market reflects the ongoing strain on Nigeria’s foreign exchange system, as well as the difficulties businesses and individuals face in accessing foreign currencies.
Other major currencies also recorded notable figures today. In the black market, the British pound is exchanged at around ₦2,100 for buying and ₦2,120 for selling, while the euro stands at ₦1,780 for buying and ₦1,800 for selling.
At the official CBN window, the pound trades at ₦2,077.04 for buying and ₦2,078.39 for selling, while the euro is quoted at ₦1,790.18 for buying and ₦1,791.35 for selling.
The Chinese yuan currently trades around ₦213.29 to ₦213.43, while the Saudi riyal goes for ₦408.07 to ₦409.34.
Cryptocurrency values have also been tracked against the naira. At the time of this report, one Bitcoin (BTC) is valued at approximately ₦170.7 million, with ₦1 equivalent to 0.0000200078 BTC.
Similarly, Ethereum (ETH) trades at about ₦6.9 million per unit, with ₦1 converting to 0.00000034 ETH.
It is important to note that foreign exchange rates in Nigeria vary across different platforms ranging from the CBN official rate to black market operators, commercial banks, and international money transfer services.
These disparities not only create arbitrage opportunities but also pose significant hurdles for businesses, importers, students abroad, and travellers who rely on steady access to foreign currency.
For practical calculations, those exchanging $50 today in the black market will receive approximately ₦77,000 at the buying rate of ₦1,540, while sellers will part with about ₦77,250 at the selling rate of ₦1,545.
Similarly, exchanging $100 yields about ₦154,000 at the buying rate, while purchasing $100 costs ₦154,500 at the selling rate.
Larger transactions follow the same pattern. Exchanging $500 will fetch ₦770,000 at the buying rate, and cost about ₦772,500 at the selling rate. For those dealing with $1,000, the black market equivalent is ₦1,540,000 when sold, and ₦1,545,000 when purchased.
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.
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