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As demand continues to outstrip supply in Nigeria’s foreign exchange market, the exchange rate for the US dollar against the on the black market continues to fluctuate. Naira According to data compiled by traders and Investors King, on Thursday, September 25, 2025, the US dollar was trading at 1.490 naira to buy
and 1.500 naira to sell . What is the black market exchange rate for the US dollar against the today? As of Thursday, September 25, 2025, the parallel market exchange rates are as follows:
Today’s exchange rate for the US dollar against the Naira *Buy Price* 1.490 *Sell Price* 1.500* (Source: Investors King) *US dollar against the
: Black market exchange rate vs. official rate of the central bank
| The discrepancy between the black market exchange rate and the official rate published by the central bank is widening. Naira | Despite the low official exchange rate offered by the Central Bank of Nigeria, limited access to foreign exchange over the counter has forced businesses, importers, and individuals to seek currency in the parallel market. |
|---|---|
| Reliance on the black market has exacerbated inflationary pressures, driving up the cost of imported goods, tuition fees, and travel. | Factors driving the black market dollar-to-dollar exchange rate: |
| High demand for dollars | – Demand for dollars continues to increase among businesses and individuals. |
Declining foreign exchange inflows
– Declining oil revenues and insufficient reserves have impacted supply. Naira Speculative trading
– Traders anticipate further depreciation of the naira and hoard dollars. Central Bank of Nigeria Inflation concerns
– The weak naira has prompted a shift to the dollar as a store of value.
Economic impact on Nigerians Naira Importers
must contend with higher costs for goods purchased abroad, while expatriates and families continue to pay more in naira. Due to foreign exchange shortages, airfares and travel expenses for travelers continue to rise. Inflation continues to erode purchasing power, leaving households struggling. USD/CNY Exchange Rate Outlook: Analysts believe that to stabilize the naira, Nigeria needs to diversify its economy, attract foreign direct investment, and increase non-oil exports. Remittance inflows and measures to boost investor confidence are crucial to easing pressure in the foreign exchange market. Disclaimer: Black market exchange rates are unofficial and may vary by state and dealer. Official exchange rates are available from the Central Bank of Nigeria (CBN).
Published in News
Okoye Izuchukwu is a seasoned financial market writer and trader, specializing in both Nigerian and global markets. With a sharp understanding of market dynamics and a flair for insightful analysis, he simplifies complex financial concepts into compelling and accessible content. Drawing on his hands-on trading experience and in-depth research, Okoye delivers valuable insights to help readers navigate the constantly changing landscape of finance with confidence.
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