The Nigerian Naira weakened slightly against the United States dollar in the parallel market on Thursday as forex demand increased toward the end of the trading week.
As of November 6th 2025, the Dollar to Naira Black Market exchange rate stood at ₦1,460 per dollar for buying and ₦1,470 per dollar for selling, according to data compiled from major Bureau De Change (BDC) operators in Lagos and Abuja.
This marks a marginal depreciation from the previous session’s levels, with traders attributing the change to increased dollar purchases by importers and business owners settling international obligations before the weekend. Despite the mild slide, the market remains relatively stable compared to the volatility seen in earlier months.
Black Market Dollar to Naira Rate Overview
Date Market Type Buying (₦) Selling (₦) Change
Thursday, Nov 6, 2025 Black Market 1,460 1,470 -₦10 ▼
Tuesday, Nov 4, 2025 Black Market 1,450 1,460 —
Official (CBN) — — — See CBN
Exchange rates verified by Investors King.
How Much Is Dollar to Naira Today in Black Market
As of this morning, the Dollar to Naira Black Market exchange rate is ₦1,460 for buying and ₦1,470 for selling. Dealers across major trading hubs report moderate dollar demand, driven largely by import settlements and business travel needs.
Traders say the Naira remains under mild pressure due to limited foreign-exchange supply from official channels. However, increased inflows from remittances and steady oil earnings have helped prevent a sharper depreciation. For official rates, visit the Central Bank of Nigeria (CBN).
Key Drivers of the Current Exchange Rate
The slight weakening of the Naira this week stems from several interacting factors:
Rising Demand for Dollars: End-of-week settlements and import financing have raised demand in the parallel market.
Tight Liquidity: Limited dollar availability from the official market continues to push activity to the black market.
Oil Price Stability: Brent crude trading near $84 per barrel supports reserves but has yet to translate into broad liquidity gains.
Reduced Speculative Pressure: Traders note that speculative buying has eased compared with earlier months, helping to stabilize rate swings.
Inflation Concerns: Persistently high domestic inflation keeps demand for hard currency strong as a hedge against value erosion.
Analysts at Investors King say the Naira’s performance indicates a relatively balanced market, with small fluctuations expected through mid-November.
Economic Implications
The marginal movement in the Dollar to Naira Black Market rate continues to shape Nigeria’s short-term economic landscape:
Importers: Slightly higher rates increase import costs, which may affect retail prices of goods.
Consumers: Continued pressure on the Naira could sustain existing inflationary trends in food and fuel prices.
Businesses: Exchange-rate uncertainty complicates pricing strategies and profit planning for import-dependent companies.
Students and Travelers: Those sourcing foreign exchange for education and travel still benefit from more stable rates than in Q2 2025.
Investors: A steady range boosts short-term confidence, though structural reforms remain vital for sustained recovery.
Economists emphasize that bridging the gap between the official and black-market rates will remain key to achieving exchange-rate harmony and controlling inflation.
Market Outlook
Looking ahead, analysts expect the Naira to trade between ₦1,455 and ₦1,475 per dollar through the remainder of the week, assuming consistent remittance inflows and moderate demand levels. Oil revenue, diaspora remittances, and foreign portfolio participation will continue to be the main stabilizing forces.
However, experts caution that Nigeria’s reliance on imported goods and limited export diversification still exposes the currency to external shocks. Sustained policy consistency, improved fiscal coordination, and a stronger investment climate are needed to secure long-term forex stability.
Conclusion
The Dollar to Naira Black Market exchange rate today, Thursday, November 6th 2025, stands at ₦1,460 for buying and ₦1,470 for selling, reflecting a slight depreciation as forex demand increased ahead of the weekend.
For verified and real-time updates on Dollar to Naira, visit Investors King, Aboki Forex, and the CBN.
While the Naira remains largely stable, sustaining confidence will depend on continuous inflows, efficient market regulation, and transparent policy coordination to close the widening gap between official and parallel market rates.