Are you searching for the latest Dollar to Naira exchange rate today, 18 March 2025? This article provides an in-depth analysis of the Aboki black market rate, the CBN official rate, and the factors influencing the USD to NGN exchange rate in Nigeria.......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Dollar to Naira Black Market Exchange Rate Today – 18 March 2025
The Aboki exchange rate or black market dollar to naira rate fluctuates daily due to supply and demand dynamics. As of today, Tuesday, 18 March 2025, the black market exchange rate in Lagos and other parts of Nigeria is:
Buying Rate: ₦1,575 per $1
Selling Rate: ₦1,585 per $1
This means that if you are buying dollars, you will get $1 for ₦1,585, and if you are selling dollars, you will receive ₦1,575 per $1 in the parallel market.
Note: The black market rate is not regulated by the Central Bank of Nigeria (CBN) and is influenced by forex traders’ activities in the market.
Official CBN Dollar to Naira Exchange Rate Today – 18 March 2025
The Central Bank of Nigeria (CBN) determines the official exchange rate for USD to NGN, which is lower than the parallel market rate. As of 18 March 2025, the official rates are:
CBN Buying Rate: ₦1,527 per $1
CBN Selling Rate: ₦1,528 per $1
The CBN rate applies to government transactions, official imports/exports, and regulated forex trades through Nigerian banks and licensed exchange platforms.
Dollar to Naira Exchange Rate in Banks Today – 18 March 2025
If you are exchanging USD to NGN through Nigerian banks, the rates may vary depending on the bank. On average, the bank exchange rate for the dollar today is:
Bank Rate: ₦1,540 – ₦1,550 per $1
Note: Banks follow CBN guidelines and often offer lower rates than the black market. However, access to dollars from banks is limited due to forex scarcity.
Factors Affecting the Dollar to Naira Exchange Rate
Several factors influence the fluctuation of the naira against the dollar, including:
- Inflation Rate – High inflation weakens the naira.
- Interest Rates – Higher interest rates can attract foreign investors, strengthening the naira.
- Forex Reserves – A decline in Nigeria’s foreign reserves affects the exchange rate.
- Trade Deficit – More imports than exports increase dollar demand.
- Government Policies – CBN interventions impact USD to NGN rates.
How to Exchange Dollars to Naira in Nigeria
You can exchange USD to NGN through:
- Commercial Banks – Using the CBN official exchange rate.
- Bureau de Change (BDC) – Available at airports and major cities.
- Online Forex Platforms – Apps like Binance P2P for digital exchanges.
- Black Market – Unregulated, but widely used for forex transactions.
Warning: The black market is illegal and comes with risks like fraud and fluctuating rates.pdates!
