As of Wednesday, July 16, 2025, the exchange rate between the US dollar and the Nigerian naira at the Lagos parallel market commonly referred to as the black market stands as follows:
-
Buying Rate: ₦1,530 per dollar
-
Selling Rate: ₦1,535 per dollar
These rates are based on information obtained from local Bureau De Change (BDC) operators.
Important Notice:
The Central Bank of Nigeria (CBN) does not officially recognize the black market for foreign exchange transactions. The CBN has consistently advised individuals and businesses seeking foreign exchange to use regulated channels, specifically deposit money banks (commercial banks) across the country.
Official CBN Dollar to Naira Exchange Rate
In contrast to the parallel market, the official exchange rate provided by the Central Bank of Nigeria (CBN) as of today is as follows:
-
Highest Rate: ₦1,533
-
Lowest Rate: ₦1,527
It's important to understand that actual buying and selling prices may vary depending on the source and market dynamics at any given time.
Forex rates fluctuate frequently and may differ from those listed above depending on your location, the dealer you transact with, and market volatility. Always verify current rates before engaging in any currency exchange.
Post a Comment