Dollar to Naira Exchange: Latest Black Market Rates for Today September 4, 2025
Dollar to Naira Exchange: Latest Black Market Rates for September 4, 2025
The Dollar to Naira black market rate today has again reflected persistent forex challenges in Nigeria
Nigeria’s foreign exchange system continues to face pressure as demand for dollars in the black market outstrips the supply available through official channels.
On Thursday, September 4th, 2025, Eagles Sight News gathers that the U.S. dollar was trading at ₦1,540 per $1 for buying and ₦1,550 per $1 for selling, according to data from Investors King and independent parallel market trackers.
Current Black Market Rates
As of Thursday, September 4th, 2025, the rates in the parallel market are as follows:
| Dollar to Naira | Exchange Rate Today |
|---|---|
| Buying Rate | ₦1,540 |
| Selling Rate | ₦1,550 |
(Source: Investors King)
Black Market vs Official CBN Rate
The black market rate continues to trade above the official rate set by the Central Bank of Nigeria (CBN). While the CBN offers a lower official rate, limited access pushes many importers, students, and travelers to the parallel market, where rates are determined by real-time demand and supply. This disparity contributes to inflationary pressures and increased business costs across the country.
Reasons Behind the High Black Market Rate
- Limited Forex Supply – Falling oil revenues have restricted dollar inflows.
- Strong Import Demand – Nigeria’s reliance on imports keeps dollar demand high.
- Inflationary Trends – Rising inflation encourages holding dollars as a safer store of value.
- Speculation and Hoarding – Traders anticipate further naira depreciation and retain dollars.
Impact on Nigerians and Businesses
- Importers face increased costs for goods and raw materials.
- Students and travelers spend more naira to obtain dollars for tuition and travel purposes.
- Households experience rising prices as businesses pass on increased costs.
- Investors remain cautious due to fluctuations in exchange rates.
Outlook for the Naira
Analysts suggest that the naira may continue to face pressure in the black market until Nigeria diversifies its foreign exchange sources, increases export revenues, and boosts investor confidence. Strategic policies encouraging foreign direct investment and strengthening non-oil revenue streams are crucial to stabilizing the Dollar to Naira exchange rate.
Disclaimer: Black market rates are unofficial and vary by location. For official and regulated rates, consult the Central Bank of Nigeria (CBN).