The Dollar to Naira exchange rate in the black market opened at ₦1,600 per dollar for buying and ₦1,610 for selling on Monday, 22nd April 2025, reflecting continued volatility in Nigeria’s foreign exchange market.
This comes amid sustained demand for the U.S. dollar across the informal market, driven by trade, travel, and scarcity of forex at official channels.
As the naira continues to face pressure, the black market — also referred to as the parallel market — remains the go-to source for individuals and businesses unable to access foreign currency through the official window.
How Much is Dollar to Naira Today in Black Market?
According to market information gathered from dealers in Lagos and Abuja, and verified by Naijaonpoint, the black market dollar to naira rate as of today, Monday, 22nd April 2025, stands as follows:
Buying Rate: ₦1,600
Selling Rate: ₦1,610
These rates differ significantly from the official window provided by the Central Bank of Nigeria (CBN), where the dollar typically trades at a much lower value. However, limited availability and access constraints have pushed many Nigerians to the parallel market for their foreign exchange needs.
Dollar to Naira Exchange Rate at Official and Parallel Markets
The disparity between the official and black market rates continues to widen due to supply-demand imbalances and low FX liquidity from oil exports, diaspora remittances, and foreign direct investment. Despite various policy interventions, exchange rate stability remains a major concern.
For real-time rate updates across different FX windows including BDCs, NAFEM, and the black market, trusted platforms such as Aboki Forex and Naijaonpoint provide regular data and market insights.
CBN’s Policy Outlook and Market Implications
In response to inflationary pressure and exchange rate instability, the CBN has maintained a tight monetary stance and introduced several forex reforms in recent months. Despite these efforts, the official FX supply remains inadequate, forcing many businesses to settle transactions using black market rates.
The apex bank continues to warn against unregulated FX transactions and encourages Nigerians to use licensed institutions. However, until liquidity improves, analysts expect the black market to remain active.
Exchange Rate Outlook
Analysts suggest that Nigeria’s ability to attract foreign capital and boost non-oil exports will be critical in closing the exchange rate gap. Until then, fluctuations in the Dollar to Naira exchange rate are likely to persist across all market segments.
For up-to-date exchange rates and financial insights, visit
Naijaonpoint
Aboki Forex
CBN Official Website
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