Fresh updates from currency traders at the Lagos Parallel Market show that the naira continued to trade under pressure against the United States dollar.
According to information gathered from Bureau De Change (BDC) operators, the U.S. dollar is being sold at ₦1,474 and purchased at ₦1,460 in the black market. These rates reflect ongoing fluctuations driven by high demand for foreign currency, rising import costs, and instability within the unofficial forex space.
It is important for readers to note that the Central Bank of Nigeria (CBN) does not officially recognise or support transactions conducted in the parallel market. The apex bank insists that individuals and businesses seeking foreign exchange should carry out all transactions through their respective commercial banks or authorized dealers.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Rate – Today |
|---|---|
| Selling Rate | ₦1,474 |
| Buying Rate | ₦1,460 |
Dollar to Naira CBN Official Rate Today
| Dollar to Naira (USD to NGN) | CBN Official Rate |
|---|---|
| Highest Rate | ₦1,460 |
| Lowest Rate | ₦1,449 |
The CBN official rates are often lower than black-market prices, but access to forex at official windows remains limited for many individuals and businesses. This is one of the major factors pushing people to patronize BDCs despite the risks.
Important Note
Forex prices vary depending on the dealer, location, market demand, and time of the transaction. The amount you buy or sell your dollar for may differ slightly from the figures listed above.
