The Dollar to Naira exchange rate in the black market continues to be a major concern for individuals and businesses who depend on foreign exchange.
As of today, Tuesday, August 26th, 2025, the U.S. dollar is trading at ₦1,540 per $1 for buying and ₦1,550 per $1 for selling, according to Naijaonpoint and reliable parallel market sources.
How Much is Dollar to Naira Today in Black Market?
The current black market exchange rates for Tuesday, August 26th, 2025 are:
| Dollars to Naira | Exchange Rate Today |
|---|---|
| Buying Rate | ₦1,540 |
| Selling Rate | ₦1,550 |
(Source: Naijaonpoint)
Dollar to Naira: Black Market vs. CBN Official Rate
The parallel market exchange rate remains higher than the official rate provided by the Central Bank of Nigeria (CBN). While the CBN’s official rate is designed to keep the naira stable, many Nigerians cannot access forex at this level due to supply restrictions. As a result, businesses, importers, students, and travelers often turn to the black market, where rates are driven by demand and availability.
Why the Black Market Rate Remains Elevated
Several economic realities continue to push up the Dollar to Naira black market rate:
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Limited Forex Inflows: Oil revenues, Nigeria’s primary source of foreign exchange, remain under pressure.
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Strong Import Demand: Heavy dependence on imported goods sustains dollar demand.
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Speculative Hoarding: Traders hold dollars anticipating further depreciation of the naira.
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Inflationary Pressures: Rising inflation makes the U.S. dollar an attractive store of value.
Impact on Nigerians and the Economy
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Rising Import Costs: Businesses importing goods face higher expenses, which fuel inflation.
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Education & Travel Costs: Nigerians paying tuition abroad or traveling internationally must budget more.
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Local Industries: Manufacturers depending on imported raw materials face squeezed profit margins.
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Consumers: The higher cost of goods and services continues to erode household purchasing power.
Outlook for the Naira
Analysts suggest that unless the CBN improves forex supply and Nigeria diversifies its export base, the black market will remain the dominant source of foreign exchange. Attracting foreign investments, boosting remittance inflows, and implementing structural reforms are considered vital steps to stabilizing the Dollar to Naira exchange rate in the long run.
Disclaimer: Black market rates are unofficial and can vary across different cities. For official and regulated exchange rates, always refer to the Central Bank of Nigeria (CBN).