The Nigerian Naira maintained a slightly stronger position against the U.S. Dollar in the black market today, Sunday, June 29th, 2025.
Despite ongoing economic pressures, this weekend’s rate suggests marginal stability as traders and individuals watch for signs of further movement heading into a new week.
According to currency dealers across major black market hubs in Lagos, Abuja, Kano, and Port Harcourt, the Dollar to Naira black market exchange rate today stands at:
Buying Rate: ₦1,566 per $1
Selling Rate: ₦1,576 per $1
This shows that the Naira has held onto small gains recorded over the past few days, although the demand for dollars remains high and supply is still restricted through official channels.
How Much Is Dollar to Naira Today in Black Market?
A top query for many Nigerians remains, “how much is dollar to naira today in black market?” especially for those paying for imports, tuition, medical trips, or business-related expenses.
As of Sunday, June 29th, 2025, the Dollar to Naira black market rate is ₦1,566 per dollar for buying and ₦1,576 per dollar for selling. These figures may fluctuate slightly depending on the trader, volume, and location, but they represent the average street rate reported this morning.
For accurate daily updates, economic analysis, and verified forex figures, platforms like News About Nigeria and Aboki Forex remain reliable sources. The Central Bank of Nigeria (CBN) also publishes the official exchange rate daily for reference.
Dollar to Naira: Black Market vs. Official CBN Rate
While the black market continues to set the practical exchange rate for many Nigerians, the Central Bank of Nigeria (CBN) maintains an official Dollar to Naira rate that remains significantly lower.
As of today, the CBN official rate sits around ₦1,550 to ₦1,560 per dollar, depending on sector access and transaction category. However, strict access conditions and limited allocations force many businesses and households to source their dollars from the black market, keeping the parallel rate elevated.
What Keeps the Black Market Active?
Despite modest gains for the Naira, fundamental issues continue to make the black market critical for everyday forex transactions. Key drivers include:
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Restricted Access to Official Dollars: Documentation and sector limits mean most Nigerians can’t access the CBN window.
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Heavy Import Demand: Nigeria’s dependence on imports drives consistent dollar needs.
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Inflation and Weak Naira Confidence: Many people use the dollar to store value against local currency depreciation.
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Diaspora Inflows: Many Nigerians abroad use informal channels to send money back because of better rates.
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Speculation: Hoarding and speculative buying keep supply tight in informal markets.
Until significant reforms boost supply, close policy gaps, and build confidence, the black market will continue to set the real street rate.
Naira Outlook: Stability or Further Pressure?
Today’s stable rate shows that the parallel market is momentarily balanced by slightly improved informal supply and weekend trading calm. However, analysts expect the Naira to face fresh pressure if dollar inflows remain weak and demand surges again once business activity picks up on Monday.
To keep up with market trends and the latest economic headlines, check News About Nigeria. For real-time black market updates, visit Aboki Forex. For the official rate and monetary policy information, follow the CBN.
Conclusion
For Sunday, June 29th, 2025, the Black Market Dollar to Naira exchange rate is:
₦1,566 per dollar for buying
₦1,576 per dollar for selling
With the gap between the official and parallel markets still wide, many Nigerians will continue to depend on the black market for access to foreign currency. Short-term gains may offer brief relief, but structural forex challenges keep the pressure on the Naira.
