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Dollar to Naira Exchange Rate Today, August 28, 2025.
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Black market rate stands at ₦1,530 to ₦1,550 per $1.
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CBN warns Nigerians against patronizing parallel market for forex needs.
The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate across official and parallel markets, reflecting the ongoing volatility in the nation’s foreign exchange market.
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EKO HOT BLOG reports that at the official market, data from the Central Bank of Nigeria (CBN) shows that the Naira opened today at ₦1,536.77 per dollar. This represents a relatively stable movement compared to previous trading sessions, as the CBN continues its interventions to maintain liquidity in the market.
In contrast, the black market, also known as the parallel or Aboki FX market, recorded higher figures. Traders in Lagos and other major cities quoted the buying price of the dollar at ₦1,550 and the selling price at ₦1,530. These rates, as usual, vary depending on location and negotiation strength among buyers and sellers.
It is important to note that the CBN has repeatedly warned against patronizing the black market for foreign exchange transactions. The apex bank insists that all legitimate forex requests should be channeled through commercial banks, as the parallel market remains outside its regulatory framework.
Market watchers say the gap between official and black market rates continues to reflect pressure on the Naira, driven largely by high demand for dollars in importation, business transactions, and travel needs. Analysts also note that global oil prices, foreign reserves, and remittances play a critical role in influencing the Naira’s strength.
As of today, the exchange rates stand as follows:
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Official CBN/NFEM Rate: ₦1,536.77 per $1
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Black Market Buying Rate: ₦1,550 per $1
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Black Market Selling Rate: ₦1,530 per $1
However, actual transaction rates may differ slightly across regions and individual Bureau De Change operators.
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