Black Market Dollar to Naira Exchange Rate Today, 26th April 2025
As of Saturday, 26th April 2025, the black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) is approximately ₦1,605 per $1. This rate reflects trading in Nigeria’s parallel market, where currency exchanges often differ significantly from the official Central Bank of Nigeria (CBN) rates…..CONTINUE READING
In the black market, the buying rate is around ₦1,595, while the selling rate hovers near ₦1,605 per dollar. Rates may vary slightly depending on the specific dealer and location within Nigeria, with Lagos, Abuja, and Port Harcourt often setting the trend.
The continued fluctuation in the naira’s value is largely attributed to high demand for the dollar, inflationary pressures, and limited access to foreign exchange through official channels.
While the black market provides quicker access to forex for individuals and businesses, financial experts advise caution due to the volatility and legal risks associated with unofficial trading.
For those looking to exchange large sums or secure better rates, it’s advisable to compare multiple dealers and stay updated with daily market trends.
