Economy
SEE Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 31 December 2024

The official naira black market exchange rate in Lagos and FCT, Abuja today including the Black Market rates, Bureau De Change (BDC), and CBN rates.
According to Bureau De Change (BDC) sources in the Ogba and Ikeja axis of Lagos state, the exchange rate for a dollar to naira at the Parallel Market (Black Market) was N1750 on Tuesday, December 31, 2024, players bought a dollar for N1750 and sold it for N1760.
Bureau De Change (BDC) sources in Gwarimpa and Gwagwalada in FCT buy a dollar for N1760 and sell it for N1770 on Tuesday, December 31, 2024.
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Lagos
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1750
Selling Rate N1760
Dollar to Naira Black Market Rate FCT, Abuja
Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate N1760
Selling Rate N1770
Please note that the rates you buy or sell forex may differ from what is captured in this article because prices vary from state to state across Nigeria.
Economy
Naira rebounces in parallel market

The Naira appreciated Tuesday to ₦1,565 per dollar in the parallel market from ₦1,570 per dollar on Monday. However, it depreciated to ₦1,537 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to ₦1,537 per dollar from ₦1,528 per dollar on Monday, indicating ₦9 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to ₦37 per dollar from ₦42 on Monday.
Economy
SEE Black Market Dollar (USD) To Naira (NGN) Exchange Rate

Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for ₦1575 and sell at ₦1580 on Tuesday 11th March, 2025, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate ₦1575
Selling Rate ₦1580
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1540
Lowest Rate ₦1512
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Economy
Overview of Dollar to Naira Exchange Rate: Key Insights, Trends as of March 11, 2025

Understanding the dynamics of the foreign exchange market is crucial for individuals and businesses engaged in international transactions. The exchange rate between the U.S. Dollar (USD) and the Nigerian Naira (NGN) has experienced notable fluctuations in recent times. This article provides an overview of the current exchange rates, historical trends, and factors influencing these changes as of Tuesday, March 11, 2025.
Current Exchange Rates
As of March 11, 2025, the exchange rates are as follows:
Date Official Exchange Rate (USD to NGN): 1 USD = 1,559.65 NGN
Black Market Rate (USD to NGN): 1 USD = 1,561.00 NGN11-03-2025
Note: The official exchange rate is sourced from historical data, while the black market rate is based on user-reported information.
Recent Trends and Fluctuations
Over the past week, the USD/NGN exchange rate has exhibited the following movements:
High: 1 USD = 1,559.65 NGN on 11-03-2025
Low: 1 USD = 1,493.99 NGN on 04-03-2025
The most significant 24-hour change occurred on 11-03-2025, with a 2.118% increase in value.
Factors Influencing the Exchange Rate
Several factors have contributed to the recent fluctuations in the USD/NGN exchange rate:
Oil Prices: Nigeria’s economy is heavily reliant on oil exports. Variations in global oil prices directly impact foreign exchange earnings, influencing the Naira’s value.
Inflation Rates: Higher domestic inflation can erode the Naira’s purchasing power, leading to depreciation against the USD.
Monetary Policy: Decisions by the Central Bank of Nigeria regarding interest rates and foreign exchange interventions play a pivotal role in stabilizing the Naira.
Political Stability: Political events and policy decisions can affect investor confidence, thereby impacting currency value.
Implications for Stakeholders
Importers and Exporters: Fluctuating exchange rates can affect the cost of goods and services, influencing profit margins.
Investors: Currency volatility may impact returns on investments denominated in foreign currencies.
General Public: Exchange rate movements can affect the prices of imported goods, thereby influencing the cost of living.
Conclusion
Staying informed about exchange rate trends is essential for effective financial planning and decision-making. As of March 11, 2025, the USD to NGN exchange rate reflects both global economic conditions and domestic factors. Individuals and businesses are advised to monitor these trends closely and consult financial experts when making currency-related decisions.
Disclaimer: Exchange rates are subject to continuous change.
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