Dollar to Naira Exchange Rate – Black Market (Parallel Market) for March 16, 2025

Dollar to Naira Exchange Rate – Black Market (Parallel Market) for March 16, 2025

As of March 15, 2025, the exchange rate for the U.S. dollar in Nigeria’s black market (parallel market) is as follows:

• Buying Rate: ₦1590 per dollar
• Selling Rate: ₦1610 per dollar

This rate is based on the most recent figures from Bureau De Change (BDC) sources in Lagos.

It’s important to note that the Central Bank of Nigeria (CBN) does not endorse these parallel market rates. The CBN continues to direct individuals seeking to exchange foreign currencies to approach authorized banks, where the official exchange rate is typically lower……READ MORE

For comparison, the official rates set by the CBN are:

• Highest Rate: ₦1548
• Lowest Rate: ₦1480

Please be aware that exchange rates can fluctuate, and the rates provided may vary based on location and timing.