Current Exchange Rates: February 13, 2025
Are you searching for the latest Dollar to Naira exchange rates today? Whether you're a forex trader, business owner, or individual planning financial transactions, staying updated on dollar to naira black market rates is important. Below, we provide real-time exchange rates, insights into the parallel market, and expert advice on currency trends.
| 1 USD to NGN | 1,565 | 1,490 |
| 1 GBP to NGN | 1955 | 1872 |
| Black Market | ₦1,565 | ₦1,580 |
| CBN Official Rate | ₦1,495 | ₦1,504 |
| Peer-to-Peer (P2P) | ₦1,580 | ₦1,600 |
📢 Note: Exchange rates fluctuate frequently. Always confirm rates before making transactions.
Dollar to Naira Today (Black Market Rate vs Official Rate)
Black Market Dollar to Naira Rate Today
Buying Rate: ₦1,565 per $1
Selling Rate: ₦1,575 per $1
CBN Official Dollar to Naira Rate Today
Buying Rate: ₦1,490 per $1
Selling Rate: ₦1,500 per $1
The black market rates tend to be higher than the official Central Bank of Nigeria (CBN) rates due to supply and demand differences.
Important: Banks and financial institutions use the CBN official rate, while Bureau De Change (BDC) and street traders use the black market rate.
How Much is 1 Dollar in Nigeria Today?
The exchange rate for 1 USD to Naira today depends on where you are exchanging:
Black Market Rate: ₦1,580 - ₦1,590
CBN Official Rate: ₦1,495 - ₦1,500
Aboki FX Rate: ₦1,565 - ₦1,570
Dollar to Naira Parallel Market Exchange - 100 to 1,000 USD Conversion
| 100 | 156,500 |
| 200 | 313,000 |
| 300 | 469,500 |
| 400 | 626,000 |
| 500 | 782,500 |
| 600 | 939,000 |
| 700 | 1,095,500 |
| 800 | 1,252,000 |
| 900 | 1,408,500 |
| 1,000 | 1,565,000 |
Factors Affecting Dollar to Naira Exchange Rates
Several factors influence the fluctuating exchange rates in Nigeria:
CBN Monetary Policies - Foreign exchange regulations directly impact rates.
Inflation and Economic Stability - High inflation weakens the Naira.
Forex Supply and Demand - Limited dollar supply increases black market prices.
Oil Prices - As Nigeria's main export, oil prices significantly affect forex availability.
Speculations and Market Trends - Investor confidence and forex reserves play a role.
How to Get the Best Dollar to Naira Exchange Rates
Compare multiple sources before exchanging money.
Use official channels for safer and regulated transactions.
Follow economic news to predict market trends.
Avoid panic buying during high volatility periods.
Is It Safe to Use the Black Market for Forex Exchange?
While the parallel market offers higher exchange rates, it is unregulated and poses risks such as counterfeit notes and fraudulent transactions. Whenever possible, use licensed Bureau de Change (BDC) operators or banks.
Frequently Asked Questions (FAQs)
What is the Dollar to Naira Exchange Rate Today?
As of February 13, 2025, the black market rate is ₦1,565/$1 (buy) and ₦1,575/$1 (sell), while the CBN rate is ₦1,490/$1 (buy) and ₦1,500/$1 (sell).
Why is the Black Market Rate Higher than the CBN Rate?
The parallel market operates on supply and demand dynamics, unlike the official exchange rate controlled by CBN policies.
Where Can I Buy Dollars at the Best Rate?
You can buy at commercial banks, BDC operators, or online forex platforms. Black market rates are higher but come with risks.
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