Dollar to Naira Exchange Rate in Black Market Today, 25th February 2025
The dollar to naira exchange rate in the black market continues to be a crucial topic for businesses, travelers, and investors in Nigeria. Due to forex scarcity and economic fluctuations, the exchange rate has remained unstable, with variations across different trading locations.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
As of today, 25th February 2025, the latest black market exchange rates for the dollar to naira are as follows:
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Dollar to Naira Black Market Exchange Rate Today
Buying Rate: ₦1,490 per $1
Selling Rate: ₦1,510 per $1
These rates can fluctuate throughout the day, depending on demand and supply within the parallel market.
How Much is Dollar to Naira Today in Black Market?
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Many Nigerians prefer using the black market to exchange their dollars due to accessibility and better rates compared to the official channels. However, the parallel market rates often change due to various economic factors, including inflation, foreign reserves, and government policies.
For accurate and real-time exchange rate updates, visit Investors King and Aboki Forex to stay informed about the latest forex trends.
CBN Official Dollar to Naira Exchange Rate
The Central Bank of Nigeria (CBN) maintains an official exchange rate that differs from the black market. The official rate is regulated and lower than the parallel market rate, as the CBN manages foreign exchange policies. To check the latest official exchange rate, visit the CBN website.
Factors Affecting the Black Market Exchange Rate
Several factors contribute to the fluctuating dollar to naira exchange rate in the black market:
Forex Demand and Supply: A shortage of dollars increases exchange rates.
Inflation: A weak naira leads to a higher exchange rate for foreign currencies.
CBN Forex Policies: Restrictions on forex access affect the black market rate.
Economic Speculation: Traders hoard dollars, anticipating further naira depreciation.
Foreign Reserves: A decline in Nigeria’s foreign reserves impacts forex availability.
Conclusion
The dollar to naira exchange rate in the black market today, 25th February 2025, continues to fluctuate due to economic and policy-related factors. To make informed forex transactions, always check reliable sources like Aboki Forex for the latest updates.
For the most accurate rates, it is advisable to verify with multiple sources before carrying out any currency exchange.