The Nigerian Naira extended its winning streak against the United States dollar in the parallel market on Friday as dollar supply improved slightly across key trading hubs.
As of November 7th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,440 per dollar for buying and ₦1,450 per dollar for selling, according to information gathered from major Bureau De Change (BDC) operators in Lagos and Abuja.
This marks another day of appreciation for the Naira, driven by stronger remittance inflows, improved trader confidence, and moderate demand from importers. Dealers said market conditions have stabilized, with rates narrowing across major cities following consistent inflows from oil proceeds and diaspora remittances.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Friday, Nov 7, 2025 | Black Market | 1,440 | 1,450 | +₦20 ▲ |
| Thursday, Nov 6, 2025 | Black Market | 1,460 | 1,470 | — |
| Official (CBN) | — | — | — | See CBN |
Exchange-rate data verified by Naijaonpoint.
How Much Is Dollar to Naira Today in Black Market
As of this morning, the Dollar to Naira Black Market exchange rate is ₦1,440 for buying and ₦1,450 for selling, indicating a further strengthening of the Naira compared to the previous day’s rate. Market dealers attribute this performance to steady liquidity in the informal forex segment and softer dollar demand from importers.
Traders report that speculative activity remains subdued as more participants expect the Naira to maintain its current trajectory. For verified official rates and policy information, visit the Central Bank of Nigeria (CBN).
Why the Naira Is Gaining Strength
The Naira’s latest appreciation in the parallel market is supported by several positive developments:
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Improved Dollar Supply: Steady inflows from oil receipts and remittances have eased supply constraints.
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Reduced Speculation: Regulatory oversight has discouraged hoarding and speculative buying.
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Stable Crude Oil Prices: Brent crude trading near $85 per barrel has reinforced Nigeria’s foreign-exchange reserves.
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Increased Market Confidence: The sustained narrowing of black-market spreads signals renewed confidence among dealers and investors.
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Moderate Demand: Import-related transactions remain steady but not excessive, helping balance market conditions.
Economists believe the Naira’s recovery is likely to continue if liquidity remains consistent and speculative trading stays low.
Economic Implications
The appreciation of the Dollar to Naira Black Market rate has broad short-term implications for Nigeria’s economy:
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Importers: Lower exchange costs help stabilize import prices and reduce inflationary pressure.
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Consumers: Stronger currency performance supports purchasing power by slowing the pace of price increases.
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Businesses: Predictable exchange rates make it easier for companies to plan budgets and manage forex exposure.
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Students and Travelers: A lower parallel-market rate reduces foreign-exchange expenses for tuition and travel.
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Investors: A more stable forex environment boosts sentiment and could attract portfolio inflows.
However, experts caution that structural challenges — including limited export diversification and uneven policy coordination — still pose risks to long-term stability.
Market Outlook
Analysts expect the Naira to trade within a range of ₦1,435 to ₦1,455 per dollar through the coming week if dollar inflows remain stable. Strong oil receipts, steady remittance transfers, and cautious market behavior are likely to sustain the current momentum.
Still, the gap between the official and parallel-market rates remains a concern. Bridging this difference will require ongoing reforms, transparent monetary management, and consistent CBN interventions to harmonize the market.
Conclusion
The Dollar to Naira Black Market exchange rate today, Friday, November 7th 2025, stands at ₦1,440 for buying and ₦1,450 for selling, marking another day of modest gains for the local currency.
For accurate and up-to-date information on Dollar to Naira trends, visit Naijaonpoint, Aboki Forex, and the CBN.
While the Naira’s outlook remains cautiously optimistic, sustaining this progress will depend on continuous forex inflows, credible monetary coordination, and broader economic reforms to reduce reliance on the parallel market and strengthen Nigeria’s external position.