The Nigerian Naira appreciated further against the United States dollar in the parallel market on Tuesday, extending the modest recovery seen at the start of the week.
On October 21st 2025, the Dollar to Naira Black Market exchange rate traded at ₦1,470 per dollar for buying and ₦1,480 per dollar for selling, according to data from major currency traders in Lagos, Abuja, and Port Harcourt.
The latest movement represents a continued strengthening of the local currency following steady inflows from remittances and moderate demand from importers. Market participants said dollar availability slightly improved in key hubs, easing pressure on the Naira after several weeks of volatility.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Tuesday, Oct 21, 2025 | Black Market | 1,470 | 1,480 | +₦10 ▲ |
| Monday, Oct 20, 2025 | Black Market | 1,480 | 1,490 | – |
| Official (CBN) | — | — | — | See CBN |
Figures compiled from market operators and verified by Naijaonpoint.
How Much Is Dollar to Naira Today in Black Market
As of this morning, the Dollar to Naira Black Market rate stands at ₦1,470 for buying and ₦1,480 for selling. The modest improvement reflects a calmer trading environment, with dealers reporting steady flows from informal remittances and bureau-de-change networks.
Demand for foreign exchange remains active, though slightly lower than in early October. Many traders expect the Naira to hold near current levels if dollar inflows from oil sales and diaspora remittances continue. For official rates and policy updates, visit the Central Bank of Nigeria (CBN).
Why the Naira Is Gaining
Analysts highlight several factors supporting the Naira’s appreciation this week:
-
Improved Dollar Liquidity: Increased supply from remittances and oil receipts has boosted availability in the parallel market.
-
Reduced Speculation: Market confidence has grown as speculative hoarding of dollars declines.
-
Stable Crude Prices: Oil trading above $80 per barrel continues to sustain forex inflows for Nigeria.
-
Regulatory Stability: Fewer abrupt policy changes from the monetary authorities have encouraged steady market activity.
Despite the recent gains, the black-market rate remains considerably above the official rate, signaling persistent structural weaknesses in Nigeria’s foreign-exchange system.
Economic Impact of the Dollar to Naira Black Market Rate
The current exchange rate movement has mixed effects across sectors:
-
Importers enjoy slight cost relief as the Naira strengthens, lowering import bills temporarily.
-
Consumers may see slower price increases if the trend continues and inflation moderates.
-
Students and Travelers benefit from cheaper conversion rates when sourcing dollars.
-
Investors view the improved stability as a sign of renewed confidence, though long-term certainty is still limited.
Economists warn that unless official forex windows supply adequate liquidity, the black-market rate will continue to serve as Nigeria’s real exchange benchmark.
Market Outlook
Traders project that the Naira could maintain its current range between ₦1,460 and ₦1,485 per dollar through the rest of the week, depending on dollar inflows and demand levels. A stronger performance will require sustained CBN intervention, improved export revenue, and consistent fiscal management.
Experts also stress that narrowing the gap between the official and parallel rates remains critical for investor confidence, inflation control, and long-term economic stability.
Conclusion
The Dollar to Naira Black Market exchange rate today, Tuesday, October 21st 2025, is ₦1,470 for buying and ₦1,480 for selling, marking a mild but notable strengthening of the Naira.
For accurate and real-time updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
Although the Naira’s short-term outlook appears stable, long-term recovery will depend on deeper economic reforms, increased foreign-exchange inflows, and effective alignment between fiscal and monetary policy.