The Nigerian Naira appreciated significantly against the United States dollar in the parallel market on Tuesday, continuing its recent positive momentum.
As of October 28th 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 information gathered from key Bureau De Change operators in Lagos and Abuja.
The latest movement represents one of the strongest performances for the Naira in weeks, as the local currency recovered on improved market confidence, increased dollar inflows, and reduced speculative demand. Traders attributed the uptrend to higher remittance inflows and stable oil receipts supporting liquidity in the system.
Black Market Dollar to Naira Rate Overview
| Date | Market Type | Buying (₦) | Selling (₦) | Change |
|---|---|---|---|---|
| Tuesday, Oct 28, 2025 | Black Market | 1,450 | 1,460 | +₦25 ▲ |
| Monday, Oct 27, 2025 | Black Market | 1,475 | 1,485 | – |
| Official (CBN) | — | — | — | See CBN |
Rates confirmed 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. This appreciation reflects renewed optimism among traders as dollar liquidity improves across key trading hubs.
Forex dealers report increased dollar availability from remittances, export proceeds, and business settlements. Market participants also noted that fewer individuals are hoarding dollars, indicating growing confidence in the Naira’s short-term outlook.
For official rates and policy updates, visit the Central Bank of Nigeria (CBN).
Factors Behind the Naira’s Appreciation
The Naira’s strong performance in the black market can be attributed to several key developments in the economy and foreign exchange landscape:
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Improved Dollar Inflows: Higher remittance volumes and oil earnings boosted liquidity in the parallel market.
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Reduced Speculation: Market operators have cut back on speculative trading amid improved confidence in forex stability.
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Stable Oil Prices: Global crude prices remain above $83 per barrel, strengthening Nigeria’s forex reserves and supporting the Naira.
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Government Interventions: Ongoing efforts by the monetary authorities to harmonize forex channels have increased transparency and efficiency.
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Diaspora Remittances: Inflows from Nigerians abroad continue to play a key role in sustaining the supply of foreign currency in the informal market.
Despite these gains, experts caution that volatility could return if liquidity tightens or inflation worsens in the coming months.
Economic Impact
The Naira’s appreciation in the Dollar to Naira Black Market brings short-term relief to several sectors of the economy:
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Importers: Lower exchange costs help reduce the price of imported goods and manufacturing inputs.
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Consumers: A stronger Naira may help ease inflationary pressure and stabilize commodity prices.
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Businesses: Improved exchange rate predictability supports planning and pricing strategies for local companies.
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Students and Travelers: Cheaper exchange rates reduce the cost of tuition and travel-related expenses.
However, analysts warn that sustaining the gains will depend on continuous improvement in dollar supply and consistent policy implementation.
Market Outlook
Market analysts expect the Naira to maintain its current momentum if inflows from remittances and exports remain stable. The currency could trade within a range of ₦1,440 to ₦1,465 per dollar throughout the week if demand remains moderate.
Experts also emphasize that narrowing the gap between the official and parallel market rates remains essential to achieving lasting stability and boosting investor confidence. A more unified forex framework would improve transparency and enhance Nigeria’s attractiveness to foreign investors.
Conclusion
The Dollar to Naira Black Market exchange rate today, Tuesday, October 28th 2025, stands at ₦1,450 for buying and ₦1,460 for selling, marking a notable appreciation of the local currency.
For trusted and timely updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
While the Naira’s recent rally offers short-term relief, sustained growth will depend on Nigeria’s ability to expand non-oil exports, attract more foreign investment, and build stronger confidence in its economic and monetary policies.