As of Friday, August 1, 2025, the exchange rate for the United States Dollar (USD) to the Nigerian Naira (NGN) in the Lagos Parallel Market commonly referred to as the Black Market has slightly changed compared to the previous day.
According to information gathered from Bureau De Change (BDC) operators, one dollar is currently being bought at ₦1550 and sold at ₦1555.
This rate represents the ongoing disparity between the official exchange rate provided by the Central Bank of Nigeria (CBN) and the rate obtainable on the streets, which is often driven by market demand and limited supply of foreign currency.
Dollar to Naira Exchange Rate – Parallel Market (Black Market)
| Transaction Type | Rate (₦) |
|---|---|
| Buying Rate | ₦1550 |
| Selling Rate | ₦1555 |
Official CBN Exchange Rate Today
At the official Central Bank of Nigeria window, the USD to NGN exchange rate as of today ranges between:
- Highest Rate: ₦1535
- Lowest Rate: ₦1533
It’s important to note that the CBN does not recognize or endorse the black market as a legitimate source for foreign exchange transactions. The apex bank has repeatedly urged individuals and businesses to use licensed financial institutions, such as commercial banks and official forex dealers, for all currency exchanges and related transactions.
Please be advised that foreign exchange rates are highly volatile and may vary significantly depending on location, demand, time of transaction, and source of the currency. The figures quoted in this report are based on Lagos black market averages and may not reflect prices available in other cities or at different times of the day.
For official transactions or larger sums, it’s recommended to consult your financial institution for current rates and best practices.
