The Dollar to Naira black market exchange rate remains a crucial indicator of Nigeria’s forex market dynamics. As of 12th March 2025, the exchange rate in the parallel market continues to reflect fluctuations driven by foreign exchange demand, supply shortages, and government policies.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
The latest rates for the Dollar to Naira black market are:
Buying Rate: ₦1,561 per $1
Selling Rate: ₦1,585 per $1
These rates indicate a steady demand for the US dollar, despite interventions by the Central Bank of Nigeria (CBN) to stabilize the Naira.
How Much is Dollar to Naira Today in Black Market?
Many Nigerians rely on the black market exchange rate for foreign currency transactions due to limited access to official forex windows. The Dollar to Naira rate fluctuates daily, influenced by inflation, foreign reserves, and forex policies set by the CBN.
For real-time updates and financial analysis, visit Investors King, Aboki Forex, and CBN. These platforms provide insights into official exchange rates, forex trends, and government policies affecting the foreign exchange market.
Factors Influencing the Black Market Exchange Rate
Forex Demand & Supply – High demand for the dollar by importers, businesses, and travelers influences fluctuations.
Inflation & Economic Policies – Rising inflation and economic uncertainty impact currency stability.
CBN Interventions – Monetary policies, forex restrictions, and liquidity injections affect exchange rates.
Foreign Investments – Capital inflows or outflows play a role in determining the strength of the Naira.
Dollar to Naira Exchange Rate Outlook
The Naira’s performance in the black market will depend on how the CBN manages forex reserves, stabilizes the economy, and implements policies to boost the official forex market. The widening gap between the official and parallel market rates highlights the need for sustained forex reforms.
