- Dollar To Naira Exchange Rate For July 15th 2025.
- Black market rate hits ₦1,550, showing forex scarcity pressure.
- Experts forecast continued naira volatility through July 2025.
As of July 13 (latest available official data), the U.S. dollar buys for ₦1,528.52 on the official market—a modest dip from earlier in the month.
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EKO HOT BLOG reports that in contrast, the black market rate in key Nigerian cities—Lagos, Abuja, and Kano—is much higher, with buying prices around ₦1,535 and selling prices reaching ₦1,550.
This disparity reflects ongoing forex supply pressures and market segmentation. Below is a breakdown of today’s exchange rates:
| Market | USD/NGN Rate | Notes |
|---|---|---|
| Official (Open FX) | ₦1,528.52 | National average per Open Exchange Rates |
| Black Market (Aboki) | Buy: ₦1,535 Sell: ₦1,550 | Traders in Lagos, Abuja, Kano |
Market Context:
-
Official Market: The rate of ₦1,528.52 represents a slight depreciation (~₦14) from mid‑June, signaling weaker naira sentiments over the past month.
-
Black Market: Rates hover significantly higher—up to ₦1,550—highlighting persistent liquidity constraints outside the official forex window .
Experts forecast continued volatility in the coming weeks. According to projections, the USD/NGN rate may fluctuate between ₦1,498 and ₦1,544 through July.
Interventions by the Central Bank, increased forex inflows, and improved liquidity would be key to narrowing the current divide.
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