Today's unofficial exchange rate for USD to NGN on August 10th, 2025
Dollar to Naira Black Market Exchange Rate in Lagos: August 10th, 2025
The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) on August 10th, 2025, was approximately ₦1,555 to ₦1,565 per 1 US Dollar.
According to sources at Bureau De Change (BDC), the buying rate for a dollar was ₦1,555, while the selling rate was ₦1,565. These rates are subject to change on a daily basis, but as of August 11th, the rates remained relatively stable.
It's important to note that the rates for buying or selling forex may vary from the rates captured in this article. Individuals who wish to engage in Forex are directed by the Central Bank of Nigeria (CBN) to approach their respective banks.
The official CBN exchange rate for a dollar to naira on August 10th, 2025, was ₦1,532 for buying and ₦1,536 for selling. This rate is significantly lower than the black market rate, highlighting the premium on the black market.
The Central Bank of Nigeria (CBN) does not recognize the Parallel Market (Black Market). However, the black market rate remains a popular avenue for many Nigerians due to its availability and convenience.
In the days following August 10th, the black market rate had shown some fluctuations. By August 16th, the rate had dropped slightly to around ₦1,540 per 1 USD. The official CBN rate, on the other hand, remained relatively stable at ₦1,533.
In summary, the approximate black market rate for a dollar to naira on August 10th, 2025, was ₦1,555 - ₦1,565 per USD, which is typically higher than the official rate due to market dynamics. It's always recommended to check the latest rates before engaging in any Forex transactions.
- Despite the Central Bank of Nigeria (CBN) not recognizing the Parallel Market (Black Market) in Nigeria, it remains a popular avenue for many Nigerians, especially due to its availability and convenience.
- The exchange rate for a dollar to naira at the Lagos Parallel Market (Black Market) on August 10th, 2025, was approximately ₦1,555 to ₦1,565 per 1 US Dollar.
- The buying rate for a dollar at the Lagos Parallel Market on August 10th, 2025, was ₦1,555, while the selling rate was ₦1,565.
- In personal-finance matters, it's essential to be aware that the rates for buying or selling forex may vary, and individuals who wish to engage in Forex are directed by the Central Bank of Nigeria to approach their respective banks.
- Engaging in foreign exchange (Forex) investing in Nigeria can be complex, with the official CBN exchange rate being significantly lower than the black market rate, which highlights the premium on the black market.
