How Much is the Dollar to Naira Today?
As the Nigerian economy continues to grapple with currency fluctuations, the Dollar to Naira exchange rate remains a key concern for individuals and businesses alike.
On the black market, commonly referred to as the parallel market or Aboki fx, exchange rates continue to reflect real-time demand and supply dynamics, differing significantly from official rates set by the Central Bank of Nigeria (CBN).
According to traders and sources at Bureau De Change (BDC) outlets in Lagos, the exchange rate for Sunday, 18th May 2025, saw the US Dollar being bought at ₦1,625 and sold at ₦1,635 per dollar.
It is worth noting that black market rates are largely driven by informal trading and are not officially endorsed by the CBN.
The apex bank maintains that all foreign exchange transactions should be routed through approved financial institutions and has frequently warned the public against patronising the parallel market.
USD to NGN – Black Market Rate (Lagos)
Buying Rate – ₦1,625
Selling Rate – ₦1,635
Official Dollar to Naira Rate – CBN (19th May 2025)
At the official foreign exchange window monitored by the Central Bank of Nigeria:
* Highest Rate: ₦1,603
* Lowest Rate: ₦1,597
These rates are applicable to interbank transactions and reflect the CBN’s efforts to stabilise the naira and manage inflationary pressures.
The disparity between the official and parallel market rates continues to raise concerns among economists, who warn of the impact on investor confidence and inflation.
Why the Wide Gap Between Official and Black Market Rates?
The difference in rates is largely influenced by the persistent shortage of foreign currency in the official market, driving individuals and businesses to seek alternatives.
Analysts argue that without a unified and transparent forex policy, the naira will remain under pressure, and speculative trading will thrive.
Disclaimer: Currency exchange rates fluctuate regularly. The rates mentioned in this report are based on data available at the time of writing and may vary depending on location and transaction volume. Always consult licensed financial institutions before making significant forex transactions.
