Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 30th August 2025
The exchange rate for the United States dollar (USD) to the Nigerian naira (NGN) in the parallel market, popularly known as the black market, stood at ₦1,545 for $1 as of today, Friday, 30th August 2025. This figure is largely based on market updates sourced from Bureau De Change (BDC) operators, who serve as a major reference point for most forex transactions outside official banking channels.
In the black market today, the buying rate for the dollar is ₦1,535, while the selling rate is pegged at ₦1,545. These figures are not static, as exchange rates often fluctuate several times within the day, depending on market demand, available dollar supply, speculation among traders, and wider government economic policies.
The continued volatility of the naira against the dollar reflects Nigeria’s ongoing economic challenges and the persistent shortage of foreign exchange liquidity in the country.
By contrast, the Central Bank of Nigeria (CBN) maintains its own official exchange rate, which tends to be lower than what is obtainable in the black market. As of today, the official CBN rate for the dollar is approximately ₦1,535.42 for buying and ₦1,536.42 for selling.
The gap between the official window and the parallel market underscores the heavy pressure on the naira and the difficulties the government faces in stabilising the currency.
Beyond the US dollar, other foreign currencies also experienced similar pressures. The British pound sterling traded in the black market at ₦2,100 for buying and ₦2,120 for selling, while the euro exchanged at ₦1,780 for buying and ₦1,800 for selling.
Meanwhile, the official CBN rates placed the pound sterling slightly lower at ₦2,077.04 for buying and ₦2,078.39 for selling, while the euro was quoted at ₦1,790.18 for buying and ₦1,791.35 for selling. The Chinese yuan (CNY) and Saudi riyal (SAR) also recorded modest variations across the two markets.
Interestingly, cryptocurrencies such as Bitcoin and Ethereum remain alternative assets for Nigerians seeking to hedge against naira depreciation. At the time of writing, 1 Bitcoin (BTC) is valued at about ₦168 million, while 1 Ethereum (ETH) trades around ₦6.8 million. The growing interest in cryptocurrencies reflects the limited confidence in the naira and the desire of many investors to safeguard wealth from inflation and exchange rate volatility.
For individuals or businesses looking to exchange fixed dollar amounts in the black market today, the breakdown is as follows: $50 will fetch around ₦76,750 at the buying rate and cost about ₦77,250 at the selling rate. Exchanging $100 gives ₦153,500 at buying and ₦154,500 at selling.
Larger transactions such as $500 yield ₦767,500 at buying and ₦772,500 at selling, while those needing as much as $1,000 will get ₦1,535,000 at the buying rate and pay ₦1,545,000 at the selling rate.
These figures illustrate the high cost of foreign exchange in Nigeria’s informal market and its direct impact on business owners, importers, students paying school fees abroad, and ordinary travellers. With the rising gap between official and black market rates, arbitrage opportunities continue to exist, allowing some traders to profit from the disparity.
However, this comes at the expense of economic stability and puts additional pressure on businesses and households already grappling with inflation. The persistence of forex rate variations across the CBN, commercial banks, international money transfer operators, and the black market has continued to create uncertainty. For many Nigerians, the black market remains the most accessible source of foreign currency, despite the risks and price premiums.
Until Nigeria addresses its underlying foreign exchange challenges, including dollar scarcity, heavy import dependence, and inflationary pressures, the naira is expected to remain under strain in the foreseeable future.
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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