The Dollar to Naira exchange rate in the black market opened trading on Monday, 21st April 2025, at N1,590 per dollar for buying and N1,600 per dollar for selling, reflecting the ongoing disparity between the official and parallel market rates in Nigeria’s foreign exchange system....READ ORIGINAL & FULL CONTENT FROM SOURCE | READ ORIGINAL & FULL CONTENT FROM SOURCE...
As pressure mounts on the naira amid sustained demand for dollars by importers and businesses, the black market continues to serve as the primary alternative for many Nigerians seeking foreign exchange.
How Much is Dollar to Naira Today in Black Market?
According to information obtained from Investors King and verified dealers in Lagos and Abuja, the black market exchange rate today, 21st April 2025, is as follows:
Buying Rate – N1,590
Selling Rate – N1,600
This rate differs significantly from the official rate published by the Central Bank of Nigeria (CBN), where the dollar remains priced significantly lower due to official interventions and policy restrictions.
Dollar to Naira Exchange Rate – Official vs Black Market
While the black market continues to operate outside regulatory oversight, it remains a key indicator of actual market sentiment and availability of forex in the country.
The CBN maintains tight control over the official window and restricts access to foreign exchange for certain imports and personal travel allowances (PTA/BTA). As a result, businesses and individuals often turn to the black market to meet their forex needs.
To compare current rates and track market movement, reliable platforms such as Aboki Forex and Investors King provide real-time updates on exchange rates across different market windows.
What’s Driving the Demand in the Black Market?
Several key factors continue to influence the black market exchange rate:
Persistent shortage of dollars at official channels
Increased demand from importers and travelers
Delays in FX allocations from banks
Weak investor confidence in the Nigerian foreign exchange framework
These issues have widened the gap between the official and parallel markets, creating an arbitrage opportunity for dealers and speculators.
Implication for the Nigerian Economy
The high Dollar to Naira exchange rate in the black market has direct consequences on the cost of imported goods, inflation, and general economic activities. As more businesses buy forex at higher rates, these costs are often passed to consumers in the form of higher product prices.
Until structural reforms are implemented to improve Nigeria’s forex inflow through non-oil exports, diaspora remittances, and foreign direct investments (FDI), the pressure on the naira may persist.
Stay Updated
For accurate and up-to-date exchange rates, visit
Investors King
Aboki Forex
CBN Official Portal
Investors and traders are advised to exercise caution when dealing with unofficial forex dealers and to rely on verified sources for exchange rate updates.