The exchange rate between the United States Dollar (USD) and the Nigerian Naira (NGN) continues to fluctuate as the naira weakens further in the parallel market, also known as the black market (Aboki fx).
According to reports from Bureau De Change (BDC) operators in Lagos on Friday, October 10, 2025, the dollar is being sold at ₦1,500 and bought at ₦1,485 in the black market.
However, the Central Bank of Nigeria (CBN) maintains that it does not recognize the black market, urging individuals and businesses seeking foreign exchange to transact through official banking channels.
At the official CBN rate, the dollar trades at an average of ₦1,462 (highest) and ₦1,445 (lowest). The wide margin between the official and parallel market rates reflects ongoing forex supply constraints, inflationary pressures, and increased demand for foreign currency.
Forex traders note that prices vary slightly depending on location and time of transaction. Experts continue to urge the government to implement stable monetary reforms to strengthen the naira and close the widening gap between the official and unofficial markets.
| Dollar to Naira (USD/NGN) | Rate Today (₦) |
|---|---|
| Black Market Selling | ₦1,500 |
| Black Market Buying | ₦1,485 |
| CBN Official Rate (High/Low) | ₦1,462 / ₦1,445 |
