Dollar to Naira Exchange Rate Today, July 3, 2025

Dollar to Naira Exchange Rate Today, July 3, 2025.
CBN official rate remains around ₦1,532 to ₦1,534 per dollar.
Forex traders urged to verify current rates due to daily fluctuations.

The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate at the black market, also known as the parallel market or Aboki FX, with slight variations recorded across different locations.

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EKO HOT BLOG reports that as of Wednesday, July 3, 2025, dollar to naira rates in the Lagos black market stand at ₦1,610 per dollar for buying and ₦1,615 per dollar for selling, according to updates from Bureau De Change (BDC) operators. This indicates a marginal increase compared to previous figures from July 2, where traders bought at ₦1,560 and sold at ₦1,570.

While the black market remains the go-to option for many Nigerians seeking foreign exchange, the Central Bank of Nigeria (CBN) has consistently warned against using the parallel market for forex transactions. The CBN has reiterated that it does not recognize black market rates and advises individuals to use official banking channels for all foreign exchange dealings.

At the official market, the Central Bank of Nigeria’s rates on July 3, 2025, range between ₦1,532 and ₦1,534 per dollar. This highlights the persistent gap between the CBN rate and the black market rate, which remains a concern for financial stability and foreign exchange access in the country.

It is important to note that black market rates can vary slightly depending on the city and the dealer, with fluctuations typically influenced by forex demand, availability, and economic factors.

Traders and individuals dealing in forex are advised to monitor the market closely as rates can change within hours.