Unofficial Exchange Rate for US Dollars to Nigerian Naira on August 16, 2025
News Article: Black Market Exchange Rates for US Dollar to Nigerian Naira on August 15, 2025
In Lagos, Nigeria, on Friday, August 15, 2025, the exchange rate for the US dollar to Nigerian naira at the Parallel Market, also known as the Black Market, saw a slight appreciation compared to the previous day.
According to reports from Bureau De Change (BDC) sources, the buying rate for a dollar was approximately ₦1,560, while the selling rate was ₦1,550. This is a slight improvement from the rates on the previous day, which stood at ₦1,542 for buying and ₦1,550 for selling.
It's important to note that the Central Bank of Nigeria (CBN) does not recognize the Parallel Market. However, the black market rates often serve as a benchmark for forex trading in Nigeria.
The official CBN rate on the same day was ₦1,530 per dollar, indicating a slight premium in the black market rates. Rates on nearby dates show that the black market rate was increasing later in August, reaching around ₦1,550 - ₦1,555 per dollar by August 22, 2025.
For individuals looking to engage in Forex, the CBN directs them to approach their respective banks. However, it's worth noting that the rates for buying or selling forex at the market may differ from the rates in this article due to market fluctuations.
This article pertains to the exchange rates for a dollar to naira on August 15, 2025. The highest CBN rate for buying a dollar today was ₦1,535, while the lowest rate for selling a dollar was ₦1,533.
[1] Source: Legit.ng, citing a BDC trader. [2] Source: Unspecified.
- The exchange rate for the US dollar to Nigerian naira in Lagos's black market on August 15, 2025, slightly appreciated, with the buying rate at approximately ₦1,560 and the selling rate at ₦1,550.
- Despite the Central Bank of Nigeria (CBN) not recognizing the Parallel Market, its rates often serve as a benchmark for forex trading in Nigeria, with the official CBN rate on August 15 being ₦1,530 per dollar, indicating a slight premium in the black market rates.
- For those interested in Forex investing, the CBN directs them to approach their respective banks, but it is worth noting that market fluctuations may cause variations in the buying or selling rates of forex at the market.
- Personal finance experts may find it beneficial to monitor the exchange rates between the US dollar and the Nigerian naira, as changes in these rates can significantly impact business and personal finance decisions in Nigeria.
- It's interesting to compare the black market rates for the US dollar to Nigerian naira with the official CBN rate, as the differences can be quite substantial and influence various aspects of the nation's financial landscape.
