Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 20th May 2025

• Dollar  To Naira Exchange Rate Today 20th May 2025.
• CBN official rate stands lower at ₦1,580 per dollar.
• CBN warns against using black market for forex transactions.

As of Tuesday, May 20, 2025, the Nigerian Naira continues to experience fluctuations against the US Dollar in both the black market and official exchange platforms. Here’s a comprehensive update on the current exchange rates:

Black Market (Parallel Market) Rates

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EKO HOT BLOG reports that in the Lagos parallel market, commonly referred to as the black market or Aboki FX, the exchange rates are as follows:

• Buying Rate: ₦1,620 per $1

• Selling Rate: ₦1,630 per $1

These rates indicate a slight depreciation of the Naira compared to the previous day’s rates, where the buying and selling rates were ₦1,620 and ₦1,630 respectively.

Central Bank of Nigeria (CBN) Official Rates

The Central Bank of Nigeria (CBN) maintains official exchange rates that are typically lower than those in the parallel market. As of the latest available data:

• Official Rate: ₦1,580 per $1

Please note that the CBN’s official rates are subject to change based on market dynamics and monetary policies

Important Notice

The CBN does not recognize the black market and advises individuals and businesses to conduct foreign exchange transactions through authorized financial institutions. Engaging in black market transactions carries risks, including potential legal implications and unfavorable rates.

Summary Table

Naira and Dollar

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