Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today – Wednesday, 5th November 2025

As of Wednesday, 5th November 2025, the exchange rate between the United States dollar (USD) and the Nigerian naira (NGN) in the parallel, or black market, shows a slight appreciation of the naira compared to late October figures.

According to Bureau De Change (BDC) operators in Lagos and Abuja, the dollar is currently trading at ₦1,435 for buying and ₦1,450 for selling.

These rates, which fluctuate daily due to shifts in market supply and demand, continue to serve as a more practical reflection of foreign exchange realities across Nigeria. Market watchers attribute the marginal strengthening of the naira to moderate dollar inflows from diaspora remittances and reduced import demand, though they caution that volatility persists amid ongoing economic uncertainty.

In contrast, the Central Bank of Nigeria (CBN) maintains its official exchange rate around ₦1,441 per dollar, underscoring the government’s effort to stabilise the naira through policy interventions and tighter control of forex operations. The relatively narrow gap between the official and black market rates suggests a temporary alignment, but analysts warn that the sustainability of such convergence depends on consistent liquidity in the official market and improved investor confidence.

For importers, travellers, and small business operators, the black market remains the more accessible avenue for sourcing dollars, despite government policies aimed at rate unification. Other major currencies also witnessed modest movement in both the official and parallel markets. In the black market, the British pound sterling currently trades between ₦1,985 and ₦2,010, while the euro exchanges between ₦1,645 and ₦1,660. At the official window, the pound is quoted between ₦1,971.55 and ₦1,973.14, while the euro trades between ₦1,631.47 and ₦1,633.82.

Meanwhile, digital currencies continue to attract attention among Nigerian youths and investors seeking alternatives to the weakening naira. As of this report, Bitcoin (BTC) is valued at approximately ₦165.3 million per coin, with one naira equivalent to about 0.00002009 BTC, while Ethereum (ETH) trades at roughly ₦6.6 million per coin, or 0.00000035 ETH per naira. The growing adoption of crypto assets highlights Nigerians’ increasing preference for decentralized stores of value amid limited access to conventional forex channels.

In practical terms, today’s black market rates translate to significant figures for everyday transactions. Exchanging fifty US dollars ($50) yields about ₦71,750 at the buying rate and ₦72,500 at the selling rate, while one hundred dollars ($100) fetches roughly ₦143,500 when sold and costs ₦145,000 when bought. For larger transactions, five hundred dollars ($500) would bring in approximately ₦717,500 on buying and ₦725,000 on selling, whereas one thousand dollars ($1,000) translates to about ₦1,435,000 and ₦1,450,000, respectively.

These figures highlight the persistent challenges confronting Nigeria’s foreign exchange ecosystem — where despite policy reforms, the black market continues to play a decisive role in shaping the naira’s real-world value against global currencies.

Hafsoh Isiaq

Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.

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