The Nigerian Naira appreciated slightly against the United States Dollar in the black market on Friday, June 13th, 2025, continuing its week-long trend of gradual gains.
The improvement in the exchange rate is attributed to reduced demand pressure and marginal increase in supply within the parallel market. Despite the slight recovery, the black market remains the most accessible avenue for forex transactions in Nigeria due to limited access to official foreign exchange channels.
As of today, currency dealers in Lagos, Abuja, and Kano report the following Dollar to Naira black market exchange rate:
Buying Rate: ₦1,580 per $1
Selling Rate: ₦1,590 per $1
These rates reflect a ₦5 gain compared to the previous trading day, providing short-term relief to importers, students, and travelers depending on the black market to source dollars.
How Much Is Dollar to Naira Today in Black Market?
For many Nigerians, the question “how much is dollar to naira today in black market?” remains a top search query, especially for those planning international payments, business transactions, or travel. As of Friday, June 13, 2025, the black market exchange rate stands at ₦1,580 per dollar for buying and ₦1,590 per dollar for selling.
These rates may vary slightly depending on the location, transaction size, and the negotiating power of the buyer or seller. For accurate, up-to-date black market exchange rates, platforms such as Naijaonpoint and Aboki Forex offer reliable and consistent tracking.
Black Market vs. CBN Official Exchange Rate
The Central Bank of Nigeria (CBN) maintains an official exchange rate that is significantly lower than the black market rate. The CBN’s rate currently ranges between ₦1,570 and ₦1,580 per dollar, depending on prevailing market conditions. However, due to limited dollar supply and stringent documentation requirements, most individuals and businesses cannot access forex through official channels.
This persistent inaccessibility has widened the gap between the official and black market rates, reinforcing the dominance of the parallel market in Nigeria’s forex ecosystem.
Key Drivers of the Black Market Dollar to Naira Rate
Several factors continue to influence the black market exchange rate, including:
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Inadequate Forex Supply: The official window cannot meet the rising demand for dollars, pushing users to the parallel market.
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High Import Dependency: Nigeria’s reliance on foreign goods sustains consistent dollar demand.
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Inflation and Currency Volatility: Rising inflation erodes Naira purchasing power, prompting businesses and individuals to hold foreign currency.
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Policy Uncertainty: Inconsistent monetary policies have undermined confidence in the Naira.
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Informal Remittance Channels: A significant portion of diaspora inflows enters Nigeria through informal markets where higher rates are offered.
These structural issues make the black market not just an alternative but a necessity for many Nigerians navigating the foreign exchange landscape.
Market Outlook
While today’s slight Naira appreciation is a positive sign, analysts caution that any lasting recovery depends on sustainable FX inflows, policy stability, and investor confidence. Oil revenue performance, external reserves, and CBN interventions will remain key to market direction in the coming weeks.
Until the forex system is reformed to allow more transparent and equitable access, the black market will continue to play a dominant role in meeting Nigeria’s forex needs.
Stay updated on market changes through Naijaonpoint, check real-time rates on Aboki Forex, and refer to the CBN for official policy guidance and regulatory announcements.
Conclusion
For Friday, June 13th, 2025, the Black Market Dollar to Naira exchange rate is:
₦1,580 per dollar for buying
₦1,590 per dollar for selling
The slight gain in the Naira reflects a temporary reprieve, but the broader forex landscape remains fragile. As most Nigerians continue to depend on the black market for their foreign currency needs, staying informed is crucial for timely and efficient financial decision-making.
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