The exchange rate between the US Dollar and Naira continued to fluctuate in the parallel market, also known as the black market, on Sunday, October 12, 2025.
According to traders at the Lagos Bureau De Change (BDC), the Dollar was sold at ₦1,510 and bought at ₦1,490 in the black market.
Meanwhile, the Central Bank of Nigeria (CBN) maintains that it does not recognize the black market as a valid exchange platform. The apex bank advises individuals seeking foreign exchange to conduct transactions through authorized financial institutions.
Dollar to Naira Black Market Rate Today
| Type | Rate (₦) |
|---|---|
| Buying Rate | ₦1,490 |
| Selling Rate | ₦1,510 |
Dollar to Naira CBN Rate Today
| Type | Rate (₦) |
|---|---|
| Highest Rate | ₦1,462 |
| Lowest Rate | ₦1,445 |
It’s important to note that exchange rates vary across different locations and dealers. The rate at which you buy or sell forex may differ from the figures reported here.
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Finance