According to sources within the Lagos parallel market (commonly known as the black market), the exchange rate for the US dollar to the Nigerian naira on Wednesday, 2nd July 2025, is as follows:
-
Buying rate: ₦1560 per dollar
-
Selling rate: ₦1570 per dollar
These rates are provided by Bureau De Change (BDC) operators in Lagos and reflect the unofficial market conditions.
The Central Bank of Nigeria (CBN) does not officially recognize transactions conducted on the black market. Individuals and businesses seeking foreign exchange are advised to use authorized channels and approach their banks for official rates.
Dollar to Naira Black Market Rate
Transaction |
Rate (₦) |
|---|---|
| Buying | 1560 |
| Selling | 1570 |
Official CBN Exchange Rate
Meanwhile, the Central Bank of Nigeria (CBN) published the following rates for the official market on the same date:
-
Highest rate: ₦1532 per dollar
-
Lowest rate: ₦1524 per dollar
These rates apply to transactions conducted through authorized channels, such as banks and licensed forex dealers.
Exchange rates can fluctuate frequently and may differ from the values presented here, depending on location, volume of transaction, and negotiating power. Always confirm current rates with your bank or BDC operator before conducting any forex transaction.
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