- Dollar to Naira Exchange Rate Today — August 17, 2025
- Black market sells dollar at around ₦1,560.
- Forex shortages widen gap between official and parallel markets.
Nigeria continues to see a sharp divergence between official and parallel market exchange rates amid persistent FX shortages. Here’s the latest snapshot of how the naira is holding up:
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| CBN Official Rate | ₦1,531 – ₦1,533 | — |
| Black Market Rate | — | ₦1,560 |
The official rate, represented by the CBN’s Volume Weighted Average (NFEM), is hovering at around ₦1,531 to ₦1,533 to the dollar.
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EKO HOT BLOG reports that from Lagos parallel market sources indicate the dollar is being sold at approximately ₦1,560.
The persistent disparity between rates highlights ongoing forex accessibility issues. With limited supplies from official channels, many individuals and businesses turn to the informal black market despite potential risks and higher costs.
Key Takeaways
-
Official Rate: ₦1,531–₦1,533 (CBN-approved NFEM rate).
-
Black Market Rate: Approximately ₦1,560 per dollar.
-
Market Divergence: Reflects FX shortages and demand pressure.
Dollar to Naira Exchange Rate Today — August 17, 2025
CBN continues to urge Nigerians to transact through authorized banks, while parallel market traders remain active amid the naira’s structural challenges.
