The Nigerian Naira continued to fluctuate against the United States Dollar in the parallel market, with slight changes observed in the exchange dynamics.
According to information gathered from key Bureau De Change (BDC) operators in Lagos, the black market exchange rate today, Wednesday, July 23, 2025, shows that the U.S. dollar is bought at ₦1,535 and sold at ₦1,540.
It is important to note that these rates are unofficial and may vary slightly depending on location, volume of transaction, and negotiation power.
Current Black Market Exchange Rate (USD to NGN)
| Transaction Type | Exchange Rate |
|---|---|
| Buying Rate | ₦1,535 |
| Selling Rate | ₦1,540 |
CBN Official Exchange Rate Today – July 23, 2025
As per the latest update from the Central Bank of Nigeria (CBN), the official rates are slightly different from those seen in the parallel market.
The CBN-recognized rates as of today are as follows:
| Rate Type | CBN Exchange Rate |
|---|---|
| Highest Rate | ₦1,537 |
| Lowest Rate | ₦1,530 |
The CBN has consistently warned against engaging in foreign currency transactions through unauthorized markets, stating that the parallel (black) market is not recognized as a valid channel for forex transactions. Individuals and businesses are advised to access foreign exchange through official banking institutions and other authorized dealers.
Exchange rates fluctuate regularly due to changes in market demand and supply. The rates presented above may vary slightly depending on the source or location. For the most accurate rate, always confirm with your local BDC operators or financial institutions.
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