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Dollar To Naira Black Market, CBN Rates Today, August 16, 2025.
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CBN rate remains lower, between ₦1,533 and ₦1,535 today.
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Forex gap persists as Nigerians face varying exchange rates.
The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate across different markets, with the parallel (black) market rate differing from the official Central Bank of Nigeria (CBN) rate.
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EKO HOT BLOG reports that according to Bureau De Change (BDC) operators in Lagos, on Friday, August 15, 2025, the black market rate stood as follows:
Dollar to Naira Black Market (Parallel Market) Rate – August 16, 2025
| Dollar to Naira (USD to NGN) | Black Market Rate Today |
|---|---|
| Buying Rate | ₦1,560 |
| Selling Rate | ₦1,550 |
This means that traders in the parallel market buy one U.S. dollar at ₦1,560 and sell at ₦1,550.
However, it is important to note that the Central Bank of Nigeria (CBN) does not officially recognise the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to approach their respective banks and authorised dealers.
Dollar to Naira Official CBN Rate – August 16, 2025
| Dollar to Naira (USD to NGN) | CBN Official Rate Today |
|---|---|
| Highest Rate | ₦1,535 |
| Lowest Rate | ₦1,533 |
The official rate provided by the CBN remains slightly lower than the black market rate, reflecting the ongoing gap between the regulated and unregulated forex markets.
Market observers warn that forex rates vary depending on location, volume of transaction, and the source of the foreign currency. As such, individuals may encounter slightly different rates when buying or selling dollars.
