The Nigerian Naira continued its upward trend against the United States dollar in the parallel market, maintaining its recent momentum as the new month begins.
As of Tuesday, November 4th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,450 per dollar for buying and ₦1,460 per dollar for selling, according to data gathered from leading Bureau De Change (BDC) operators in Lagos and Abuja.
The Naira’s performance reflects improved dollar liquidity and growing confidence among traders, supported by steady inflows from remittances and stable oil prices. Market participants say the local currency is benefiting from reduced speculative activity and better coordination between official and informal forex channels.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Tuesday, Nov 4, 2025 | Black Market | 1,450 | 1,460 | +₦10 ▲ |
| Thursday, Oct 30, 2025 | Black Market | 1,460 | 1,470 | – |
| Official (CBN) | — | — | — | See CBN |
Exchange rates verified by Naijaonpoint.
How Much Is Dollar to Naira Today in Black Market
As of today, the Dollar to Naira Black Market exchange rate is ₦1,450 for buying and ₦1,460 for selling, showing the Naira’s continued appreciation. Dealers report that dollar inflows from export settlements, diaspora remittances, and business transactions have strengthened liquidity across major trading hubs.
Traders also note that speculative dollar purchases have slowed significantly as confidence in the Naira’s short-term outlook improves. For verified official rates and monetary updates, visit the Central Bank of Nigeria (CBN).
Factors Driving the Naira’s Recent Strength
The appreciation in the Naira’s value over the past week is linked to several positive market and economic factors:
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Steady Dollar Supply: Increased inflows from oil exports and remittances have boosted foreign exchange availability.
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Reduced Speculation: Tighter market oversight has discouraged hoarding and speculative buying of dollars.
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Stable Oil Prices: Brent crude continues to trade above $82 per barrel, helping sustain Nigeria’s external reserves.
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Improved Confidence: Traders report greater confidence in the CBN’s forex management and overall market stability.
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Moderate Demand: Import-related forex requests remain steady, allowing the Naira to hold its ground.
Analysts believe that if current trends persist, the Naira could maintain its stability through mid-November, provided dollar inflows remain consistent.
Economic Impact
The Naira’s strengthening in the Dollar to Naira Black Market brings short-term relief to consumers, importers, and investors alike:
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Importers: Lower exchange rates reduce costs for imported goods and raw materials, helping control inflation.
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Consumers: A stronger Naira helps slow price increases in food, fuel, and essential commodities.
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Investors: Currency stability boosts investor confidence, encouraging both local and foreign participation.
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Students and Travelers: Those paying tuition or traveling abroad are enjoying better conversion rates compared to previous months.
However, analysts warn that while the gains are encouraging, the black market’s dominance still poses challenges to long-term currency stability and policy alignment.
Market Outlook
Looking ahead, experts forecast that the Naira could trade within the ₦1,445 to ₦1,465 per dollar range this week if dollar supply remains stable and speculation stays low. Improved inflows from oil sales, foreign investments, and remittances are expected to support the Naira’s current momentum.
Still, the gap between the official and parallel market rates remains significant. Bridging this divide will require structural reforms, increased transparency, and continued collaboration between the Central Bank and key market stakeholders.
Conclusion
The Dollar to Naira Black Market exchange rate today, Tuesday, November 4th 2025, stands at ₦1,450 for buying and ₦1,460 for selling, reflecting steady improvement in the Naira’s value.
For accurate and real-time updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
The Naira’s resilience in early November signals cautious optimism for market stability, but sustaining the gains will depend on consistent policy measures, increased foreign exchange inflows, and continued investor confidence in Nigeria’s economic direction.