News Update

As of Friday, 3rd October 2025, the exchange rate for the United States dollar (USD) to the Nigerian naira (NGN) in the parallel market, popularly referred to as the black market, stands at N1,470 per dollar for buying and N1,490 per dollar for selling.

These figures are based on the latest updates from Bureau De Change (BDC) operators, and they fluctuate regularly in response to market dynamics.

The difference between the black market and the official Central Bank of Nigeria (CBN) rates continues to highlight the pressure on the naira.

While the CBN maintains its official exchange rate at N1,445 for buying and N1,468 for selling, the black market offers slightly higher figures.

This gap reflects the persistent challenges in Nigeria’s forex market, largely driven by demand and supply imbalances, speculation, and broader economic uncertainties.

Beyond the dollar, other major foreign currencies are also traded actively in both markets. In the black market, the British pound exchanges between N2,090 and N2,120, while the euro trades between N1,790 and N1,800.

At the CBN’s official window , the pound is quoted between N2,041.97 and N2,043.31, and the euro stands between N1,773.46 and N1,774.62.