Official/ Black Market – Dollar to Naira Exchange Rate Today – May 21, 2025

• Dollar to Naira Exchange Rate Today – May 21, 2025.
• Black market rates hover around ₦1,625/US Dollar (buying) and ₦1,614/US Dollar (selling).
• CBN maintains MPR at 27.5% to curb inflation and stabilize the economy.

As of Wednesday, May 21, 2025, the exchange rate of the US Dollar to the Nigerian Naira remains a focal point for economic stakeholders, reflecting ongoing dynamics in both official and parallel markets.

Official Market Rate

EDITOR’S PICKS 

• Suspended Senator Natasha Hails Tinubu in Viral Video, Fuels Defection Talks
• Opposition Coalition: Peter Obi, El-Rufai Meet in US
• BREAKING: Eredo LCDA Boss, Ismail Monsuru Emerges APC Candidate Ahead of July 12 LG Poll

EKO HOT BLOG reports that the Central Bank of Nigeria (CBN) has maintained the official exchange rate at ₦1,596.01 per US Dollar, as reported by Forbes Advisor. This rate is consistent with the CBN’s efforts to stabilize the Naira amidst fluctuating global economic conditions.

Black Market Rate

In the parallel market, commonly referred to as the black market, the Naira trades at approximately ₦1,625 per US Dollar for buying and ₦1,614 for selling, according to data from Naira Today. This disparity between official and unofficial rates underscores the persistent challenges in Nigeria’s foreign exchange landscape.

Economic Implications

The divergence between official and black market rates continues to impact various sectors of the Nigerian economy. Importers and businesses reliant on foreign exchange often face difficulties accessing dollars at the official rate, leading them to the parallel market despite its higher costs.

Moreover, the Central Bank’s decision to retain the Monetary Policy Rate (MPR) at 27.5%, as reported by Nairametrics, reflects a cautious approach to monetary policy amidst inflationary pressures. This move aims to balance the need for economic growth with the imperative of maintaining price stability.

Looking Ahead

Analysts anticipate that the Naira will continue to experience pressure in the short term, influenced by global economic trends, oil prices, and domestic fiscal policies. Stakeholders advocate for comprehensive reforms to enhance foreign exchange liquidity and bridge the gap between official and parallel market rates.

FURTHER READING

• Armed Herders Ambush and Kill 15 Traders in Benue State
• President Tinubu Approves Nigeria First Policy, Prohibiting Foreign Importation
• Sanwo-Olu Receives English Premier League Trophy, Reaffirms Commitment to Sports Development

Watch Our Video Of The Week

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611