The Nigerian Naira traded slightly lower against the U.S. dollar in the parallel market on Thursday as demand for foreign currency remained strong among importers and business operators.
On October 9th 2025, the Dollar to Naira Black Market exchange rate opened at ₦1,465 per dollar for buying and ₦1,475 per dollar for selling.
This minor depreciation underscores the sustained pressure on the Naira, driven by increased demand and limited dollar liquidity in official windows. Although the Central Bank of Nigeria (CBN) continues to implement policy measures to stabilize the foreign exchange market, the black market remains the preferred access point for most traders.
How Much is Dollar to Naira Today in Black Market
As of today, Thursday, October 9th 2025, the Dollar to Naira Black Market exchange rate stands at:
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Buying Rate: ₦1,465 per $1
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Selling Rate: ₦1,475 per $1
Rates may vary slightly depending on location and dealer activity. These figures represent average prices quoted by major parallel market operators in Lagos, Abuja, and Port Harcourt.
For official exchange rate data, refer to the Central Bank of Nigeria (CBN).
Dollar to Naira Black Market vs Official Rate
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Black Market Rate: ₦1,465 / ₦1,475
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Official Rate (CBN): Updated daily on the CBN website.
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Market Watch Platforms: Trusted sources such as Naijaonpoint and Aboki Forex publish daily updates on Dollar to Naira Black Market performance and exchange trends.
The wide disparity between the official and parallel market rates continues to reflect the country’s dollar shortage and persistent foreign exchange challenges.
Economic Impact of the Current Rate
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Importers and Businesses: Companies relying on imported goods face increased costs due to higher exchange rates, which directly contribute to inflation.
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Consumers: Rising import prices result in elevated living costs and reduced purchasing power.
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Investors: Currency instability discourages long-term investment and creates uncertainty for financial planning.
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Students and Travelers: Individuals sourcing forex for tuition, medical, or travel expenses continue to experience higher costs in the black market.
Key Drivers of the Dollar to Naira Black Market Rate
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Limited Dollar Supply: Dollar scarcity in the official market drives heavy reliance on the parallel market.
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Speculative Trading: Ongoing speculation over further depreciation fuels demand for the greenback.
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Oil Revenue Volatility: Global oil price fluctuations directly affect Nigeria’s foreign reserves and currency stability.
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Macroeconomic Pressures: Persistent inflation, low exports, and policy inconsistencies sustain forex market imbalance.
Market Outlook
Analysts expect the Naira to remain under moderate pressure in the coming days as dollar demand remains high. Unless the CBN increases forex supply or implements stronger measures to attract foreign inflows, the parallel market will continue to dominate Nigeria’s currency landscape.
However, improved remittance inflows and rising oil prices could provide short-term support for the local currency. Market participants are also watching for new government reforms aimed at harmonizing official and parallel exchange rates.
Conclusion
The Dollar to Naira Black Market exchange rate today, Thursday, October 9th 2025, is ₦1,465 for buying and ₦1,475 for selling. Despite the Naira’s slight depreciation, the market remains relatively stable compared to early-week movements.
For accurate, real-time updates on Dollar to Naira, visit Naijaonpoint, Aboki Forex, and the CBN.
The outlook for the Naira will depend on liquidity conditions, policy consistency, and global market trends as Nigeria continues to navigate its foreign exchange challenges.