The Nigerian Naira slipped slightly against the United States dollar in the parallel market on Thursday after a week of relative stability.
As of October 30th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,460 per dollar for buying and ₦1,470 per dollar for selling, according to data from key Bureau De Change (BDC) operators in Lagos and Abuja.
This minor depreciation comes after the Naira strengthened earlier in the week, supported by steady dollar inflows and reduced speculative trading. Dealers attributed Thursday’s dip to increased end-of-month demand from importers and corporate entities seeking to settle foreign obligations.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Thursday, Oct 30, 2025 | Black Market | 1,460 | 1,470 | -₦5 ▼ |
| Wednesday, Oct 29, 2025 | Black Market | 1,455 | 1,465 | — |
| 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 is ₦1,460 for buying and ₦1,470 for selling. Dealers report that demand for the U.S. dollar rose slightly as businesses rushed to complete transactions before the close of the financial month.
While the Naira remains relatively stable, traders note that supply remains tight, with limited inflows from official channels. For verified official rates and CBN updates, visit the Central Bank of Nigeria (CBN).
Factors Driving the Dollar to Naira Black Market Movement
The Naira’s mild depreciation in the parallel market is influenced by several key market dynamics:
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Increased Dollar Demand: Importers and companies are purchasing more foreign currency for end-of-month settlements.
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Tight Supply Conditions: Dollar liquidity remains constrained in the official market, driving more activity to the parallel channel.
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Stable Oil Prices: Global crude oil prices above $83 per barrel continue to support Nigeria’s reserves but have not significantly boosted liquidity.
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Reduced Speculative Pressure: Following several weeks of stability, speculative buying has declined, limiting sharp market swings.
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Remittance Flows: Ongoing remittance inflows are helping cushion the Naira from larger declines, especially ahead of the festive season.
Analysts believe the minor dip is part of normal market adjustment and does not indicate renewed volatility.
Economic Implications
The movement in the Dollar to Naira Black Market exchange rate affects various sectors of the Nigerian economy:
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Importers: Slightly higher rates increase import costs, which could pressure domestic prices.
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Consumers: Price stability may be affected if sustained depreciation filters through to essential goods.
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Investors: Despite the minor dip, forex stability continues to improve investor sentiment.
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Students and Travelers: Those sourcing dollars for tuition and travel are experiencing relatively lower exchange costs than earlier this month.
However, with inflation still above the Central Bank’s target and forex supply uneven, the black market remains a critical barometer for the real value of the Naira.
Market Outlook
Analysts expect the Naira to remain within a stable trading range of ₦1,455 to ₦1,475 per dollar through the end of the week, barring any major policy shifts. Improved inflows from oil exports and remittances could help maintain stability in the short term.
In the long run, experts emphasize the need for consistent policy measures and deeper structural reforms to align official and parallel market rates. Diversifying exports and strengthening investor confidence remain essential to sustaining the Naira’s performance.
Conclusion
The Dollar to Naira Black Market exchange rate today, Thursday, October 30th 2025, stands at ₦1,460 for buying and ₦1,470 for selling, reflecting a minor depreciation in the local currency following several days of gains.
For accurate and real-time updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
As October closes, the Naira’s overall performance remains stable compared to earlier months, offering cautious optimism that consistent supply, policy alignment, and reduced speculation could sustain this momentum into November.