The Nigerian Naira extended its recent gain against the United States dollar in the parallel market as improved dollar inflows slightly strengthened the local currency.
On Tuesday, October 7th, 2025, the Dollar to Naira Black Market exchange rate opened at ₦1,455 per dollar for buying and ₦1,465 per dollar for selling.
This appreciation continues a steady trend observed since the start of October, supported by better liquidity from remittance inflows and reduced speculative trading.
However, the wide margin between the official and black market rates still reflects persistent inefficiencies within Nigeria’s foreign exchange system.
How Much is Dollar to Naira Today in Black Market
As of today, the Dollar to Naira Black Market rate is as follows:
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Buying Rate: ₦1,455 per $1
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Selling Rate: ₦1,465 per $1
These figures represent average transactions across key trading zones in Lagos, Abuja, and Port Harcourt. The demand for foreign currency remains high, especially among importers and travelers, despite slight improvement in dollar availability.
For verified official rates, visit the Central Bank of Nigeria (CBN).
Dollar to Naira Black Market vs Official Rate
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Black Market Rate: ₦1,455 / ₦1,465
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Official Rate (CBN): Published daily by the CBN.
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Market Monitoring Sources: Trusted platforms like Naijaonpoint and Aboki Forex provide up-to-date exchange rate movements and financial insights.
Despite marginal stability, the persistent gap between both markets underscores ongoing challenges in aligning monetary policy with real-time market forces.
Economic Impact of the Current Exchange Rate
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Import Costs: Businesses dependent on imported goods continue to face high operational costs, which feed into domestic inflation.
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Inflation Pressure: Rising forex costs elevate prices across essential commodities, impacting purchasing power.
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Investor Confidence: Currency volatility discourages foreign investment and complicates long-term business planning.
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Education and Travel: Nigerians paying tuition abroad or traveling for medical or business purposes face higher conversion expenses.
Factors Influencing the Dollar to Naira Black Market Rate
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Forex Liquidity: Limited dollar supply through official channels sustains demand in the parallel market.
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Oil Revenue Volatility: Crude oil earnings continue to influence Nigeria’s external reserves and forex strength.
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Speculation: Market speculation and hoarding of foreign currency remain key drivers of parallel market activity.
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Inflation and Policy Instability: Persistent inflation and inconsistent monetary interventions continue to weigh on the Naira’s value.
Market Outlook
Analysts expect moderate trading in the coming days as the market reacts to potential CBN policy adjustments and global oil price trends. While the Naira shows signs of resilience, sustained appreciation will depend on consistent inflows from exports, remittances, and investment.
A stable forex market remains crucial for taming inflation, reducing import costs, and restoring investor confidence.
Conclusion
The Dollar to Naira Black Market exchange rate today, Tuesday, October 7th, 2025, stands at ₦1,455 for buying and ₦1,465 for selling.
The Naira’s recent appreciation suggests short-term relief for the economy, though long-term stability hinges on improved dollar supply and stronger fiscal coordination.
For verified updates on Dollar to Naira, Nigerians are encouraged to rely on trusted financial platforms such as Naijaonpoint, Aboki Forex, and the CBN.
Nigeria’s forex outlook remains cautiously optimistic, but sustained recovery will depend on government reforms, export diversification, and investor-driven capital inflows.