Unofficial USD to NGN Exchange Rate on the 9th of August, 2025
Dollar to Naira Exchange Rate Fluctuates in Nigeria's Black Market
In a report published by our website, a division of Polance Media Inc. on 8th August, 2025, we present the latest exchange rate information for the United States Dollar to Nigerian Naira in Lagos' Parallel Market, also known as the Black Market.
As of 8th August, 2025, the approximate exchange rate in the Black Market was around ₦1,540–₦1,550 per US Dollar for both buying and selling[2][4]. This rate is significantly higher than the official rates provided by the Central Bank of Nigeria (CBN).
By 12th-14th August, 2025, the Black Market rate had risen further to approximately ₦1,550 to ₦1,590 per Dollar, according to multiple sources[1][3]. This indicates a slight appreciation of the Dollar against the Naira in the Black Market during this period.
It is important to note that the rates in the Black Market can fluctuate daily due to supply and demand factors. Therefore, the rates you buy or sell forex may be different from what is captured in this article.
The CBN does not recognize the parallel market and encourages individuals who want to engage in Forex to approach their respective banks, not the parallel market. The lowest rate for a Dollar to Naira exchange at the CBN on 8th August, 2025, was ₦1532 for selling, and the buying rate was ₦1536[5].
[1] Source 1 [2] Source 2 [3] Source 3 [4] Source 4 [5] Source 5
- The latest exchange rate in Lagos' Black Market, as of 8th August, 2025, was around ₦1,540–₦1,550 per US Dollar.
- By 12th-14th August, 2025, the Black Market rate had risen further to approximately ₦1,550 to ₦1,590 per Dollar.
- The CBN does not recognize the Parallel Market, but the lowest rate for a Dollar to Naira exchange at the CBN on 8th August, 2025, was ₦1532 for selling, and the buying rate was ₦1536.
- The fluctuation in the Black Market rates is due to supply and demand factors, which can make the rates different from what is provided by the CBN.
- Engaging in Forex through banks, rather than the Black Market, is encouraged by the Central Bank of Nigeria (CBN).
- The government does not endorse the practice of shopping using foreign currencies, such as US Dollars, due to policies regarding personal-finance, business, and lifestyle in Nigeria.
