Black Market Dollar To Naira Exchange Rate Today – 18th July 2025
As Nigeria continues to wrestle with foreign exchange instability, many Nigerians—especially importers, travelers, and online business owners—are keeping a close watch on the ever-volatile dollar to naira exchange rate. Today, 18th July 2025, the black market—also referred to as the parallel market or “Aboki fx”—has once again shown a slight shift in the value of the naira against the US dollar.
What Is the Dollar to Naira Rate Today?
In the Lagos black market, sources from Bureau De Change (BDC) operators report that:
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💵 Buying Rate: ₦1540/$1
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💵 Selling Rate: ₦1545/$1
This means that if you’re looking to sell your dollars, you’ll get ₦1540 per dollar, and if you’re buying, you’ll have to part with ₦1545 for each dollar.
Official CBN Exchange Rate vs Black Market
The Central Bank of Nigeria (CBN), while maintaining a more conservative stance, listed the official dollar to naira rate for today as:
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Highest Rate: ₦1538
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Lowest Rate: ₦1520
However, it’s crucial to note that the CBN does not recognize the parallel market and has advised individuals and businesses seeking foreign exchange to go through authorized commercial banks.
Why Does the Black Market Matter?
While the CBN may wish the parallel market didn’t exist, the reality is quite different on the streets. For many Nigerians, the black market is the real market. It reflects the true demand and supply of foreign currencies, especially when:
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Banks have limited forex liquidity
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Documentation requirements delay transactions
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Urgent business or personal needs arise
The slight spread between the CBN rate and the black market rate (currently about ₦5–₦25) might seem minor, but at scale—especially for importers or those sending tuition and medical bills abroad—it can mean millions of naira in difference.
What’s Fueling the Naira’s Struggles?
The naira continues to face downward pressure due to:
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Low oil revenue inflow
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Depletion of foreign reserves
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Dollar hoarding and speculation
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Persistent inflation
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Rising demand for foreign currency in an import-heavy economy
Though the government has introduced various policies—such as unifying exchange rates and reducing Bureau De Change access to official forex—the demand for dollars still outpaces supply.
What Can You Do as a Nigerian?
While we await long-term solutions like local industrial growth and export-driven revenue, here are a few practical steps:
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🛑 Avoid panic-buying dollars, as speculation drives prices higher.
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💳 Use official channels when possible to avoid exploitation and fake notes.
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📈 Track daily rates if you deal with forex regularly—this helps you buy or sell at the best moment.
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💼 Diversify your income or business streams, especially towards export opportunities or digital services paid in foreign currency.
Final Thoughts
The dollar to naira exchange rate—especially in the black market—remains a mirror of Nigeria’s economic pulse. While today’s rate shows the naira holding relatively steady, underlying pressures continue to threaten its value.
For now, whether you’re a small business owner trying to import goods, a student paying foreign tuition, or just someone saving in dollars, staying informed is your best defense. We’ll keep bringing you timely, reliable updates—so bookmark this page, subscribe to our alerts, and never get caught off guard.
