Dollar to Naira Black Market Rate Today 5 May 2025

The dollar to naira black market rate today, 5 May 2025, can be accessed below.

Newsone Nigeria has obtained 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 is the dollar to naira black market rate today?

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.

Newsone reports that the parallel exchange rate (black market rate) always differs from the CBN rate. The exchange rate between the USD and the Nigerian Naira significantly impacts the Nigerian economy. 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.

How do you find a Reputable Dollar Black Market Exchange Dealer?

If you are looking to exchange USD for Naira, it is important to find a reputable dealer. You can find USD to NGN black market dealers online or in person. However, it is important to be careful when exchanging currency on the Naira Black Market, as there is a risk of being scammed.

Tips for Exchanging Dollars for Naira on the Black Market

• Only exchange Dollars (USD) with reputable dealers.
• Ask for a written receipt for the exchange.
• Be aware of the current Dollars to Naira Black Market Exchange rate before you exchange your currency.
• Do not exchange large amounts of Dollar currency at once.

What Factors Affect the Dollar to Naira Black Market Exchange Rate?

Several factors can affect the Dollar Black Market Exchange rate, including:

• Supply and Demand for the Dollar
• The political and economic situation in the US and Nigeria
• The value of the US dollar.