The Nigerian Naira opened the month of August under pressure against the United States Dollar in the black market.
On Friday, August 1st 2025, the parallel market reflected persistent demand for the greenback as importers, students, and businesses continued to seek foreign exchange amid limited official supply.
According to dealers across Lagos, Abuja, and Port Harcourt, the Dollar to Naira black market exchange rate today is:
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Buying Rate: ₦1,540 per $1
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Selling Rate: ₦1,550 per $1
The ₦10 spread highlights the continued volatility and strong demand for dollars in Nigeria’s parallel foreign exchange market.
How Much is Dollar to Naira Today in Black Market?
For those asking, how much is dollar to naira today in black market, the rate on Friday, August 1st 2025, stands at ₦1,540 to buy one dollar and ₦1,550 to sell one dollar.
These figures represent the average across major informal forex hubs, though rates can vary slightly depending on city, transaction volume, and dealer negotiations.
For trusted updates and detailed forex reports, check Naijaonpoint. You can also view real-time black market prices on Aboki Forex and confirm official exchange rates via the Central Bank of Nigeria (CBN).
Dollar to Naira: Black Market vs Official CBN Rate
While the black market continues to provide immediate dollar access, the CBN official exchange rate remains lower. At the Investors’ and Exporters’ (I&E) window, the official Dollar to Naira rate currently trades around ₦1,515 to ₦1,525 per dollar.
However, due to limited allocations, strict documentation requirements, and delays, many individuals and businesses depend on the black market for their foreign exchange needs. This persistent gap between the official and parallel rates highlights the pressure on Nigeria’s forex system.
Why the Black Market Remains Dominant
The black market continues to be the preferred option for many Nigerians because of:
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Limited Access to Official FX: Banks and official dealers often fail to meet personal and SME forex demands.
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High Import Dependency: Nigeria’s heavy reliance on imports fuels daily dollar demand.
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Inflation and Devaluation: Many Nigerians keep savings in dollars to guard against inflation and naira depreciation.
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Remittance Channels: Diaspora inflows often bypass banks due to more favorable black market rates.
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Speculation and Hoarding: Traders hold back dollars when expecting further naira depreciation.
Until forex liquidity improves significantly and confidence in official channels strengthens, the black market will remain central to Nigeria’s forex ecosystem.
Market Outlook for August
Analysts warn that without strong dollar inflows from oil earnings, diaspora remittances, or foreign investment, the Naira could face more pressure in August. The CBN is expected to continue interventions to stabilize the official rate, but the parallel market will likely remain the main source for most Nigerians seeking immediate dollar access.
For expert forex analysis and timely updates, follow Naijaonpoint. Track live parallel market prices through Aboki Forex, and confirm official data directly with the CBN.
Conclusion
As of Friday, August 1st 2025, the Dollar to Naira black market exchange rate is:
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₦1,540 per dollar for buying
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₦1,550 per dollar for selling
The naira’s continued struggle against the dollar underlines the structural challenges facing Nigeria’s forex market. Until significant reforms and increased inflows are achieved, the black market will remain the primary benchmark for foreign exchange transactions.
Stay informed on the latest Dollar to Naira updates with Naijaonpoint, check real-time rates on Aboki Forex, and follow official benchmarks through the Central Bank of Nigeria (CBN).