The Nigerian Naira continued its volatile performance against the United States Dollar at the parallel market (commonly known as the black market) on Tuesday, July 22, 2025. According to information obtained from currency traders and Bureau De Change (BDC) sources in Lagos, the exchange rate stood at ₦1,535 per dollar for buying, while selling was at ₦1,540.
This rate reflects the persistent disparity between the official exchange rate and the parallel market, where demand for foreign currency often outpaces supply, leading to higher prices.
Current Black Market Exchange Rate (Aboki FX Update)
| Currency | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| 1 USD | 1,535 | 1,540 |
Note: These rates are based on market activities in Lagos and may vary slightly across different locations or traders.
Official CBN Dollar to Naira Rate
At the official foreign exchange window monitored by the Central Bank of Nigeria (CBN), the exchange rate for the dollar fluctuated within a narrow margin. The highest recorded rate was ₦1,537, while the lowest stood at ₦1,534.
CBN Official Exchange Rate Today
| Rate Type | Value (₦) |
|---|---|
| Highest Rate | 1,537 |
| Lowest Rate | 1,534 |
It’s important to emphasize that the CBN does not recognize the black market as a valid trading platform. The apex bank has advised Nigerians seeking foreign exchange for legitimate transactions to approach their banks or other authorized dealers.
The rates presented in this report are for informational purposes and reflect current trends observed in the foreign exchange market. The actual rates at which you buy or sell dollars may differ, depending on your location, negotiation, volume of transaction, and specific market conditions at the time of exchange.
For the most accurate and updated rates, consult licensed Bureau De Change operators or official bank sources.
Post a Comment