The Nigerian Naira traded weaker against the United States Dollar in the black market on Friday, August 4th 2025, as rising demand for foreign exchange continued to pressure the parallel market.
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the local currency, the gap between official and black market rates persists, forcing many Nigerians to rely on the parallel market for quick access to dollars.
According to traders in Lagos, Abuja, and Port Harcourt, today’s Dollar to Naira black market exchange rate is:
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Buying Rate: ₦1,545 per $1
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Selling Rate: ₦1,555 per $1
The ₦10 spread remains consistent with recent trading patterns, reflecting steady demand and tight supply across major forex hubs.
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 4th 2025, stands at:
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₦1,545 per dollar for buying
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₦1,555 per dollar for selling
These rates may vary slightly by location, dealer, and transaction volume but represent the average across Nigeria’s parallel market. Many individuals and businesses continue to prefer the black market for faster and easier access to foreign exchange.
For reliable daily updates and market insights, visit Naijaonpoint. You can also check real-time black market prices on Aboki Forex and confirm official rates on the Central Bank of Nigeria (CBN) website.
Dollar to Naira: Black Market vs Official CBN Rate
While the black market today trades at ₦1,555 per dollar, the official rate provided by the CBN remains lower, currently hovering between ₦1,515 and ₦1,525 per dollar at the Investors’ and Exporters’ (I&E) window.
However, difficulties in accessing dollars through official channels — including limited supply, strict documentation, and delays — continue to push individuals, importers, and students abroad toward the parallel market, widening the exchange rate gap.
Why the Black Market Remains the Main Source
The Dollar to Naira black market rate continues to dominate Nigeria’s forex environment due to several key factors:
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Limited FX Liquidity: Insufficient official allocations make it difficult for individuals and businesses to meet their dollar needs.
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High Import Dependence: Nigeria’s reliance on imported goods fuels constant demand for the U.S. dollar.
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Inflation and Currency Depreciation: Nigerians often turn to the dollar as a hedge against rising inflation and naira weakness.
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Faster Access: The black market provides immediate transactions compared to the delays associated with banks.
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Informal Remittance Channels: Many Nigerians abroad prefer sending money through informal routes that offer better exchange rates.
Economic Outlook
The Naira’s outlook remains uncertain as market watchers predict continued pressure unless Nigeria secures higher inflows from crude oil sales, diaspora remittances, and foreign direct investments. The CBN is expected to continue its interventions to stabilize the official market, but the parallel market will likely remain the benchmark for retail forex users.
To stay ahead of market trends and analysis, follow Naijaonpoint. For daily black market updates, check Aboki Forex. For official figures and policy decisions, consult the CBN.
Conclusion
As of Friday, August 4th 2025, the Dollar to Naira black market exchange rate is:
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₦1,545 per dollar for buying
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₦1,555 per dollar for selling
The Naira’s continued weakness highlights the persistent reliance on the black market due to limited access to official forex. Until Nigeria achieves stronger inflows and structural reforms, the parallel market will remain the most practical option for many Nigerians.
Stay updated with accurate Dollar to Naira coverage at Naijaonpoint, track live rates on Aboki Forex, and check official data at the Central Bank of Nigeria (CBN).