The Nigerian foreign exchange market continues to reflect pressure as the Naira traded mixed against the U.S. dollar in the parallel market.
On Friday, October 3rd, 2025, the Dollar to Naira exchange rate in the black market opened at ₦1,475 per dollar for buying and ₦1,485 per dollar for selling.
The modest movement underscores the persistent reliance on the black market, where demand for dollars remains elevated amid limited access to official channels. Despite Central Bank interventions, the parallel market continues to dictate pricing for most Nigerians.
How Much is Dollar to Naira Today in Black Market
As of today, the Dollar to Naira black market rate is:
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Buying Rate: ₦1,475 per $1
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Selling Rate: ₦1,485 per $1
These figures represent the average quotes from major commercial hubs such as Lagos and Abuja. For updated official rates, Nigerians can refer to the Central Bank of Nigeria (CBN).
Dollar to Naira Exchange Rate: Black Market vs Official
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Black Market Rate: ₦1,475 / ₦1,485
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Official Rate (CBN): Updated daily by the CBN.
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Market Tracking Sources: Reliable platforms such as Naijaonpoint and Aboki Forex provide real-time exchange rate information.
The continued disparity between the official and black market rates highlights Nigeria’s ongoing foreign exchange challenges, with demand consistently outpacing supply.
Implications for Nigerians
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Importers and Businesses: Rising parallel market rates increase import costs, further driving inflation across the economy.
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Consumers: Everyday goods and services are affected as higher forex costs filter into market prices.
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Students and Travelers: Nigerians schooling abroad or traveling face higher conversion costs when sourcing dollars.
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Investors: Persistent volatility weakens investor confidence and affects Nigeria’s economic stability.
Factors Driving Black Market Rates
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High Demand for Forex: Importers and individuals continue to rely heavily on the black market.
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Limited Official Supply: Restricted access to official windows sustains the parallel market’s relevance.
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Speculative Trading: Fear of further Naira depreciation fuels speculative buying of dollars.
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Macroeconomic Challenges: Inflation and oil-dependent revenue streams add further strain.
Conclusion
The Dollar to Naira black market exchange rate today, Friday, October 3rd, 2025, is ₦1,475 for buying and ₦1,485 for selling. While the Naira has shown some resilience, the persistent gap between official and parallel market rates reflects underlying structural weaknesses in Nigeria’s forex system.
For accurate and timely updates on Dollar to Naira, Nigerians should monitor trusted platforms such as Naijaonpoint, Aboki Forex, and the CBN.