The Nigerian Naira started the new week on a weaker note against the United States dollar in the parallel market as demand for foreign exchange increased across key trading zones.
On Monday, October 13th, 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,492 per dollar for buying and ₦1,502 per dollar for selling, according to data gathered from traders in Lagos and Abuja.
The depreciation reflects renewed pressure on the Naira following a temporary period of stability. Market participants attributed the movement to rising demand from importers, travelers, and small businesses seeking access to foreign currency amid tight dollar liquidity at official channels.
How Much is Dollar to Naira Today in Black Market
As of today, Monday, October 13th, 2025, the Dollar to Naira Black Market exchange rate is:
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Buying Rate: ₦1,492 per $1
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Selling Rate: ₦1,502 per $1
These figures represent the average exchange rates offered by parallel market operators in major cities including Lagos, Abuja, and Port Harcourt. The difference between the official and black market rates continues to be driven by persistent foreign exchange shortages and speculative activity.
For verified official exchange rates, refer to the Central Bank of Nigeria (CBN).
Dollar to Naira Black Market vs Official Rate
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Black Market Rate: ₦1,492 / ₦1,502
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Official Rate (CBN): Available on the CBN website.
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Market Monitoring Platforms: Financial information sites like Naijaonpoint and Aboki Forex publish daily updates on Dollar to Naira Black Market trends and market insights.
The consistent gap between the official and parallel rates highlights Nigeria’s ongoing foreign exchange challenges, where limited official supply forces many businesses and individuals to turn to the black market.
Economic Implications
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Importers and Businesses: Importers sourcing dollars at higher rates face increased costs, which are often passed on to consumers through higher product prices.
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Consumers: Rising exchange rates continue to drive inflation, reducing purchasing power and affecting the cost of living.
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Investors: Forex volatility discourages foreign investment, as exchange-rate uncertainty affects capital planning.
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Education and Travel: Nigerians paying tuition or medical bills abroad experience higher financial strain due to elevated conversion costs.
Key Factors Influencing the Dollar to Naira Black Market Rate
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Dollar Scarcity: Limited availability of forex at official channels continues to fuel parallel market demand.
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Speculative Trading: Traders and individuals hoard foreign currency in anticipation of further Naira depreciation.
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Inflation: Persistent inflation weakens domestic confidence in the Naira, sustaining demand for the U.S. dollar.
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Oil Revenue Volatility: Nigeria’s dependence on crude oil exports means fluctuations in global oil prices directly affect forex inflows.
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Policy Uncertainty: Inconsistent monetary policy actions and market reforms contribute to instability in the forex market.
Market Outlook
Analysts expect continued volatility in the coming days as demand for dollars remains strong across sectors. While the Central Bank of Nigeria intensifies its intervention efforts to improve liquidity and narrow the exchange rate gap, sustained progress will depend on increased dollar inflows, stronger non-oil exports, and macroeconomic stability.
With inflation still above target levels and import dependence remaining high, forex pressures are likely to persist through the short term unless structural reforms yield tangible results.
Conclusion
The Dollar to Naira Black Market exchange rate today, Monday, October 13th, 2025, stands at ₦1,492 for buying and ₦1,502 for selling. The Naira’s latest decline underscores the fragile state of Nigeria’s forex market and the ongoing struggle to stabilize the local currency.
For accurate and timely updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
As the week unfolds, all eyes remain on the Central Bank’s next move and the broader economic factors that will determine whether the Naira can regain stability in the days ahead.