- Dollar sells for ₦1540, buys at ₦1535 in black market.
- CBN rates fluctuate between ₦1534 and ₦1536 today.
- CBN warns against using black market for foreign exchange dealings.
The exchange rate between the US Dollar and the Nigerian Naira continues to fluctuate, with slight movements recorded at the parallel market on Friday, July 25, 2025.
EDITOR’S PICKS
- Hailey Bieber Clears Air on $1 Billion Rhode Sale
- Presidential Jet Returns After Repaint In South Africa
- Osimhen Finally Set for €75m Permanent Galatasaray Move
EKO HOT BLOG reports that according to sources at the Bureau De Change (BDC) in Lagos, the black market exchange rate saw the dollar purchased at ₦1535 and sold at ₦1540. These rates apply to cash transactions carried out by currency traders outside official banking channels.
Black Market Rates (Aboki FX) – July 26, 2025:
-
Buying Rate: ₦1535
-
Selling Rate: ₦1540
Market watchers attribute the slight rise to ongoing demand pressures, as many Nigerians continue to rely on parallel markets due to limited dollar availability in official channels.
It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize rates from the parallel market. The CBN has consistently urged individuals and businesses seeking foreign exchange to conduct transactions through licensed banks and authorized dealers.
CBN Rates – July 26, 2025:
-
Highest Rate: ₦1536
-
Lowest Rate: ₦1534
Exchange rates often vary slightly across regions and traders, so customers are advised to confirm prevailing rates before carrying out any forex transactions.
FURTHER READING
- Elon Musk, Jeff Bezos Add $7.8bn in One Day as Tech Stocks Surge
- Sanwo-Olu Celebrates APC Victory in Lagos LG Polls
- Trump’s Epstein Letter Sparks Lawsuit
