The Dollar to Naira exchange rate continues to fluctuate due to economic policies, forex supply, and demand pressures. As of 13th March 2025, the black market exchange rate remains a crucial factor for businesses and individuals engaging in foreign transactions.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Below are the latest black market exchange rates for today:
- Buying Rate: ₦1,561 per $1
- Selling Rate: ₦1,585 per $1
How Much is Dollar to Naira Today in Black Market?
The black market Dollar to Naira rate differs from the official rate set by the Central Bank of Nigeria (CBN) due to market forces and limited forex availability. Many Nigerians rely on the parallel market due to restrictions on forex allocations from commercial banks.
Factors Affecting the Black Market Exchange Rate
- Forex Supply & Demand – Limited forex supply and increased demand from businesses and importers contribute to Naira depreciation.
- CBN Policies & Interventions – Measures such as forex restrictions and monetary policies influence exchange rate fluctuations.
- Inflation & Economic Stability – Rising inflation and economic uncertainty weaken the Naira against the Dollar.
- Foreign Reserves & Investments – A decline in foreign reserves and reduced foreign investments impact forex availability.
Dollar to Naira Exchange Rate Outlook
The Dollar to Naira black market rate is expected to remain volatile as Nigeria grapples with forex scarcity and inflationary pressures. The CBN’s intervention strategies and global economic trends will play a key role in determining future exchange rates.
