The Nigerian Naira strengthened slightly against the United States dollar in the parallel market to close the trading week on a positive note.
On Friday, October 24th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,465 per dollar for buying and ₦1,475 per dollar for selling, according to data collected from key forex dealers across Lagos and Abuja.
This marks the second consecutive day of appreciation for the Naira, signaling improving dollar liquidity and easing demand from importers. Market participants say the local currency has shown relative stability throughout the week due to better supply conditions and lower speculative activity in the black market.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Friday, Oct 24, 2025 | Black Market | 1,465 | 1,475 | +₦5 ▲ |
| Thursday, Oct 23, 2025 | Black Market | 1,470 | 1,480 | — |
| Official (CBN) | — | — | — | See CBN |
Rates 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 shows operators buying dollars at ₦1,465 and selling at ₦1,475. This represents a small but steady improvement from earlier in the week. Dealers report moderate dollar inflows from remittances and business settlements, contributing to the currency’s strengthened position.
While the gap between the official and parallel market rates remains significant, the current movement reflects growing confidence in the market’s short-term outlook. For verified official figures, visit the Central Bank of Nigeria (CBN).
Factors Driving the Current Dollar to Naira Black Market Rate
Several key factors continue to influence the Naira’s performance in the black market:
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Increased Dollar Supply: The recent improvement in forex liquidity, especially from remittance inflows, has eased pressure on the Naira.
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Stable Oil Prices: Crude oil prices hovering around $85 per barrel have strengthened Nigeria’s external reserves and improved dollar inflows.
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Reduced Speculation: Market traders report less hoarding of dollars, as expectations of further depreciation have slowed.
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Seasonal Dollar Inflows: Higher inflows from diaspora remittances ahead of the festive season are providing additional market support.
Despite these positives, analysts note that underlying forex challenges persist due to limited official supply and the country’s heavy import dependence.
Economic Impact
The slight appreciation in the Dollar to Naira Black Market rate provides some short-term relief across sectors:
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Importers benefit from a lower cost of sourcing foreign currency, which could help stabilize product prices.
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Consumers may experience slower price increases if the Naira’s gains continue.
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Students and Travelers enjoy improved conversion rates for tuition and travel-related payments abroad.
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Investors see the move as a confidence booster, though uncertainty remains in the broader macroeconomic environment.
However, economists warn that without consistent inflows and sustainable reforms, the Naira’s stability could be temporary.
Market Outlook
Analysts predict that the Naira will likely trade within the ₦1,460 to ₦1,480 per dollar range in the coming days as the Central Bank continues to monitor market conditions. Improved remittance flows and moderate oil earnings are expected to sustain liquidity through the end of the month.
Nonetheless, the black market remains sensitive to shifts in policy and global financial trends. Sustained stability will depend on increased export revenue, better forex management, and a reduction in Nigeria’s import dependency.
Conclusion
The Dollar to Naira Black Market exchange rate today, Friday, October 24th 2025, stands at ₦1,465 for buying and ₦1,475 for selling, marking a slight appreciation in the value of the Naira.
For reliable and daily updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
While the Naira’s performance this week is encouraging, experts emphasize that long-term stability will require deeper structural reforms, increased dollar inflows, and sustained policy consistency to strengthen investor confidence and reduce dependence on the black market.