As of Wednesday, July 30, 2025, the United States dollar is being exchanged at the Lagos Parallel Market, also known as the black market, at an average buying rate of ₦1,545 and a selling rate of ₦1,550, according to information gathered from Bureau De Change (BDC) sources.
It is important to emphasize that the Central Bank of Nigeria (CBN) does not officially recognize transactions conducted on the parallel market. The CBN has consistently advised individuals and businesses in need of foreign exchange to approach authorized commercial banks and other regulated financial institutions for legitimate forex transactions.
Dollar to Naira – Black Market Rates (Unofficial Market)
| Currency Pair | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| USD to NGN | ₦1,545 | ₦1,550 |
Dollar to Naira – Official CBN Rates
According to the Central Bank of Nigeria’s official figures:
| Currency Pair | Lowest Rate (₦) | Highest Rate (₦) |
|---|---|---|
| USD to NGN | ₦1,532 | ₦1,535 |
Please note that exchange rates differ based on location, demand, volume of transaction, and other market forces. The rates provided above are averages and may vary slightly from what is obtainable at your local dealer or bank. It’s always advisable to confirm the current rate before making any foreign exchange transactions.
