The Nigerian Naira depreciated slightly in the black market on Friday, June 27th, 2025, as demand for foreign currency increased ahead of the weekend.
This movement reflects ongoing volatility in the parallel market, driven by limited supply and persistent pressure on the local currency.
Based on data gathered from major black market hubs in Lagos, Abuja, Kano, and Port Harcourt, the Dollar to Naira black market exchange rate today is:
Buying Rate: ₦1,590 per $1
Selling Rate: ₦1,600 per $1
This ₦10 spread highlights the cost of sourcing dollars outside the official system and the market’s reaction to supply-demand imbalances.
How Much Is Dollar to Naira Today in Black Market?
One of the most searched questions by Nigerians remains, “how much is dollar to naira today in black market?” As of today, the black market exchange rate stands at ₦1,590 for buying and ₦1,600 for selling.
Rates can fluctuate based on region and transaction size, but these are the average figures across informal currency dealers. For consistent daily updates and currency insights, visit News About Nigeria, a reliable source for economic and market news. You can also track live rates via Aboki Forex and compare with the Central Bank of Nigeria (CBN) official rate.
Dollar to Naira: Black Market vs. CBN Official Rate
Despite multiple efforts by the Central Bank of Nigeria (CBN) to stabilize the exchange rate, the gap between the official and black market rates persists. The CBN’s official Dollar to Naira rate currently ranges between ₦1,570 and ₦1,580.
However, limited access to official forex through banks and the Importers & Exporters (I&E) window has pushed individuals and businesses to rely on the black market. The disparity continues to reflect inefficiencies in Nigeria’s forex management system and a shortage of supply at official windows.
What Is Driving Black Market Rate Movements?
Several factors continue to influence exchange rate dynamics in the black market:
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Restricted Official Dollar Access: Banks and authorized dealers are unable to meet growing demand for personal, business, and travel-related forex needs.
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Heavy Import Dependence: Nigeria’s economy is largely import-based, fueling dollar demand.
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Rising Inflation: As domestic purchasing power declines, more individuals convert Naira to dollars as a hedge.
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Informal Remittances: Nigerians in the diaspora often send money through informal channels offering better rates.
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Market Uncertainty: Policy ambiguity and inconsistent supply feed speculative behavior and hoarding.
These issues ensure that the parallel market remains the go-to source for the average Nigerian seeking foreign exchange.
Naira Outlook: Pressure to Persist Without Reforms
While the Naira has maintained relative stability in recent days, analysts warn of continued vulnerability. Until Nigeria secures a consistent inflow of dollars from exports, foreign direct investment, or international support, the Dollar to Naira black market rate will remain subject to swings.
Short-term interventions by the CBN may help slow depreciation, but long-term solutions lie in economic diversification, boosting non-oil exports, and restoring investor confidence.
Stay informed with daily market coverage from News About Nigeria, follow real-time exchange data from Aboki Forex, and review official guidance and rate policies on the CBN website.
Conclusion
For Friday, June 27th, 2025, the Black Market Dollar to Naira exchange rate is:
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Buying: ₦1,590 per dollar
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Selling: ₦1,600 per dollar
The black market continues to play a dominant role in Nigeria’s foreign exchange landscape, especially for retail-level transactions. As the nation grapples with forex scarcity and inflation, the parallel market remains the primary indicator of true demand and supply dynamics.
To get the latest updates on Nigeria’s economy and exchange rates, follow News About Nigeria, check current market prices on Aboki Forex, and refer to the CBN for official rates and policy interventions.
