Dollar to Naira Rate Today, September 21, 2025

• Dollar to Naira Rate Today, September 21, 2025.

• Rate stability amid tight dollar supply in official channels.

• High demand and limited access push black market rate above official rate.

The Nigerian Naira continues to face pressure in both official and parallel markets, with minimal movement in exchange rates as of Sunday, 21 September 2025.

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EKO HOT BLOG reports that forex watchers report stability in the black market, while the Central Bank of Nigeria (CBN) official rate remains below parallel market values.

What the Rates Mean

• Parallel market holds firm: In the Aboki or Bureau de Change (BDC) black market, one US dollar is being sold for about ₦1,530 while dealers are buying at about ₦1,515.

• Official rate remains lower: The CBN quoted rate stands at ₦1,496 per US dollar, unchanged in recent days. This is typically the rate used in bank transactions and formal import/export dealings.

Factors Behind the Divergence

The gap between black market and official rates persists due to limited dollar liquidity in official channels, high demand from importers, and ongoing inflationary pressures. Traders and importers who cannot access dollars at the official rate often rely on the black market, pushing up its rate.

The Naira’s stability in the official market suggests some control by the CBN through monetary policy, but the black market rate reflects realities faced by everyday Nigerians needing foreign currency for travel, education, business or other needs.

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