Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 5th July 2025

The Nigerian Naira continued to struggle against the United States Dollar at the parallel market on Friday, with rates closing higher compared to official figures released by the Central Bank of Nigeria (CBN).

Checks across major markets in Lagos on 4th July revealed that Bureau De Change (BDC) operators bought the dollar at ₦1,535 and sold at ₦1,555, reflecting sustained demand pressures on the local currency.

Meanwhile, at the official CBN window, the exchange rate hovered between ₦1,526 and ₦1,530, indicating a significant disparity between the regulated and parallel markets.

The CBN has repeatedly cautioned against transactions in the black market, emphasizing that it does not recognize the parallel exchange rates and urging individuals and businesses to approach their banks for all forex-related needs.

Market analysts note that the widening gap between the official and parallel rates continues to fuel speculations and arbitrage, further weakening confidence in the naira.

It is important to highlight that foreign exchange rates can fluctuate within hours, meaning individuals buying or selling forex may encounter slightly different rates than those captured as of Friday’s close.