Economy

SEE Dollar to Naira Exchange Rate Today, Friday, March 28, 2025

Published

7 days ago

March 28, 2025

ADMIN

The exchange rate between the U.S. Dollar (USD) and the Nigerian Naira (NGN) remains a crucial topic for businesses, travelers, and investors.

As of today, Friday, March 28, 2025, the exchange rates in both the official and parallel markets have experienced fluctuations, reflecting ongoing economic trends.

Official Dollar to Naira Exchange Rate The Central Bank of Nigeria (CBN) sets the official exchange rate, which is significantly lower than the parallel market rate. According to the latest data: Dollar to Naira exchange rate for today, Friday, March 28, 2025, is approximately ₦1,519 to ₦1,542 in the official market.

Source Exchange Rate (₦ per $1) Date CBN ₦1,532.39 March 25, 2025 Yahoo Finance (Opening) ₦1,531.50 March 27, 2025 Yahoo Finance (Closing) ₦1,533.52 March 27, 2025 The official exchange rate is the rate at which commercial banks and financial institutions trade forex under CBN regulations.

However, due to forex scarcity, many individuals and businesses turn to the black market.

Black Market Dollar to Naira Exchange Rate The parallel market (black market) offers a different exchange rate, often higher than the official rate.

Reports from the Lagos parallel market on March 27, 2025, indicate: In the black market, the Dollar to Naira exchange rate as of today, March 28, 2025, is approximately ₦1,560 for buying and ₦1,570 for selling. –

Transaction Type Exchange Rate (₦ per $1) Buying Rate ₦1,555 Selling Rate ₦1,560 Other reports suggest an average black market rate of ₦1,540 per USD, reflecting the fluctuations observed throughout the week.

Recent Dollar to Naira Fluctuations Over the past week, the exchange rate has varied significantly: Date Lowest Rate (₦) Highest Rate (₦) March 24, 2025 ₦1,566.29 ₦1,566.29 March 27, 2025 ₦1,514.92 ₦1,533.52 These fluctuations highlight the volatility in the forex market, influenced by factors such as inflation, forex reserves, and government policies.

Government’s Stance on Forex Exchange The CBN does not officially recognize parallel market rates and advises individuals to conduct foreign exchange transactions through authorized financial institutions.

The apex bank has implemented policies to stabilize the naira, including forex interventions and restrictions on certain transactions.

Experts recommend businesses and individuals monitor the forex market closely and use official channels to avoid excessive rates and fraud in the black market. What you Should Know The dollar to naira exchange rate remains a key economic indicator in Nigeria.

With ongoing market fluctuations, staying informed about both official and parallel market rates is crucial for businesses and individuals making financial decisions. For real-time updates on exchange rates, consult financial institutions, forex trading platforms, or the Central Bank of Nigeria.

Economy

SEE Black Market Dollar To Naira Exchange Rate Today 3rd April 2025

Published

12 hours ago

April 3, 2025

ADMIN

NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means that…you can buy or sell 1 dollar at a certain rate and the price can change (high or low) within hours.

The official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to remember that the rate can shift (either upwards or downwards) within hours.

What’s the dollar to naira black market today 3rd April 2025?
The local currency (abokiFx) opened at ₦1,560.00 per $1 at the parallel market, otherwise known as the black market, today, Thursday, 3 April 2025, in Lagos, Nigeria, after it closed at ₦1,550.00 per $1 on Wednesday, 2 April 2025.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate of $1 ₦1,545
Selling Rate of $1 ₦1,555
Please note that Nigeria’s black market dollar-to-naira exchange rate is typically higher than the official exchange rate because the Federal Government does not regulate it. The rates you buy or sell forex may differ from what is captured in this article because prices vary.

What is the official exchange rate for dollar to naira today? Here is the dollar to naira CBN rate today

Dollar to Naira (USD to NGN) CBN Rate Today
Buying Rate of $1 ₦1,530
Selling Rate of $1 ₦1,531
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.

Economy

Naira rebounces against the dollar in parallel market

Published

21 hours ago

April 3, 2025

Admin

Naira appreciated against the dollar on Wednesday at the official foreign exchange market after the Eid-el-Fitr holidays.

The Central Bank of Nigeria’s data showed that the naira strengthened to N1,531.25 per dollar on Wednesday from N1,536.82 recorded last Friday.

This means that the naira gained N5.57 per dollar on a day-to-day basis.

Meanwhile, on the black market, the naira depreciated to N1,555 per dollar on Wednesday from N1,550 traded on Friday before the Eid-el-Fitr holidays.

Meanwhile, recall that over the weekend, the Central Bank of Nigeria announced that the Net Foreign Exchange Reserve, NFER, stood at $23.11 billion, the highest level in over three years.

Economy

CBN denies N5,000, N10,000 banknote rumour

Published

21 hours ago

April 3, 2025

Admin

The Central Bank of Nigeria (CBN) has dismissed claims that it has introduced new N5,000 and N10,000 notes, labeling the reports as false.

In a statement posted on X on Wednesday, the apex bank debunked the rumors, stating: “This content is NOT from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng.”

The clarification comes amid widespread misinformation suggesting that the CBN planned to roll out high-denomination banknotes to reduce cash-handling costs and improve liquidity management.

Some versions of the false reports even attributed comments to a supposed Deputy Governor, Dr. Ibrahim Tahir Jr., claiming the notes would be introduced on May 1, 2025.