Dollar to Naira Black Market Exchange Rate Today, Thursday, November 20th 2025

The Nigerian Naira regained slight momentum against the United States dollar in the parallel market on Thursday, as liquidity conditions improved following mid-week forex adjustments.

As of Thursday, November 20th 2025, the Dollar to Naira Black Market exchange rate stands at ₦1,450 per dollar for buying and ₦1,460 per dollar for selling, according to pricing updates from Bureau De Change (BDC) operators in major Nigerian cities such as Lagos, Abuja, Ibadan, and Kano.

The appreciation reflects a calm trading environment with reduced speculative pressure, supported by relatively stable supply levels. Traders say dollar demand remains strong but not excessive, helping the Naira maintain a balanced position in the Black Market.

Dollar to Naira Exchange Rate — Market Overview

Data compiled from Naijaonpoint.

How Much Is Dollar to Naira Today in Black Market?

As of this morning, the Dollar to Naira Black Market rate is ₦1,450 for buying and ₦1,460 for selling, marking a modest improvement from recent close.

Dealers report that the slight uptick in the Naira’s strength is being driven by increased dollar inflows, especially from remittances and informal business transactions tied to seasonal spending.

To monitor the official Central Bank rate and FX policy changes, visit the Central Bank of Nigeria (CBN) for updates.

What Is Supporting Today’s Exchange Rate?

The Naira’s performance today is shaped by these key drivers:

✔ Improved Diaspora Remittance Inflows

Many expatriates are sending funds home ahead of the festive season, strengthening market liquidity.

✔ Better Confidence from Traders

Reduced hoarding and panic buying as market expectations remain stable.

✔ Steady Oil Market Conditions

Crude oil prices continue to hover around $85-$87 per barrel, reinforcing national FX earnings.

✔ Controlled Import Demand

Despite increasing business-related FX needs, demand is still within manageable limits.

✔ Tighter Oversight of Speculative Trading

BDC operators report a more disciplined market environment compared to earlier volatility phases.

These factors combined are helping prevent aggressive price swings in the parallel FX segment.

Economic Implications

The pricing dynamics in the Black Market have direct effects on inflation, retail pricing, business decisions, and consumer purchasing power:

• Importers enjoy modest cost relief when securing forex for retail goods.

• Consumers may see slower upward movement in prices of imported food and electronics.

• Businesses find more stability for financial planning and inventory management.

• Parents, students, and medical travelers benefit from predictable foreign exchange sourcing.

• Investors gain confidence from minimized currency risk.

However, experts warn that the persistent spread between official and parallel market rates continues to challenge economic policy efficiency and foreign investment competitiveness.

Short-Term Outlook

Market analysts expect the Naira to remain within the ₦1,445 – ₦1,465 per dollar band this week if liquidity persists at current levels. The upcoming holiday period, though, poses potential risks of increased forex demand:

Potential near-term risks include:

• Higher business imports for festive stock levels

• Increased flight bookings and overseas travel demand

• Possible oil price fluctuations

Still, sentiment remains cautiously optimistic as Nigeria continues to benefit from consistent inflow channels and reduced speculative strain.

Conclusion

The Dollar to Naira Black Market exchange rate today, Thursday, November 20th 2025, stands at:

• ₦1,450 per $1 for buying

• ₦1,460 per $1 for selling

For reliable daily exchange-rate updates, including market analysis and economic insights, visit:

As year-end transactions intensify, stakeholders will continue to closely monitor the currency’s stability and the sustainability of current market conditions in both the official and informal sectors.