Naira to Dollar Exchange Rate Today

• CBN Official Rate: ₦‎768.55 / $1

• Parallel Market (Black Market): ₦‎1,250 – ₦‎1,300 / $1

• Bureau De Change (BDC): ₦‎1,280 / $1 (Average)

Note: Rates change frequently. Bookmark this page for daily updates.

 Why Is the Naira Falling Against the Dollar?

Let’s not sugarcoat it — the Naira has been on a bumpy ride. While the Central Bank of Nigeria (CBN) attempts to unify the exchange rate, the market reality tells a different story.

Here are the top reasons for the persistent fall of the Naira:

• Dollar scarcity – Demand exceeds supply

• Inflation – Nigeria’s inflation rate is over 30%

• Low oil revenue – Nigeria’s forex reserve depends heavily on crude oil

• Foreign investor flight – Reduced confidence in Nigeria’s economy

And then, there’s the black market. Many Nigerians rely on it because the official rate doesn’t meet their needs — leading to a huge parallel market gap.

 CBN Exchange Rate vs Black Market: What’s the Difference?

Let’s break it down:

The CBN rate is mostly used for:

• Government transactions

• Official banking transfers

• Import licenses

But the black market rate dominates real-life trading, especially for:

• Business owners

• International students

• Travelers

• Importers

 How to Check Today’s Dollar to Naira Rate (Without Being Scammed)

Here are smart ways to check the real rate:

1. Trust sites like Dailymore.com.ng that publish daily updates

2. Use FX apps like AbokiFX (when it’s not banned ), FXRateAlert

3. Ask your local BDC operator in Lagos, Kano, or Abuja

4. Check Twitter trends – Many currency traders post updates

Warning: Never trust random “rate dealers” on WhatsApp. Too many scammers out there.

 What’s the Forecast for the Naira in 2025?

Most analysts agree on one thing — the Naira is in trouble unless:

• Nigeria increases non-oil exports

• Foreign investors return

• CBN restores forex supply confidence

Predictions suggest the Naira might hit ₦1,500/$ in the black market by the end of 2025 if nothing changes.

But there’s hope:

• The new Finance Reform Act could tighten BDC regulation.

• Diaspora remittances are expected to increase in Q3 2025.

Our advice? Stay updated and plan your dollars wisely.

Final Note: Stay Ahead, Stay Informed

At DailyMore, we monitor the latest economic trends and foreign exchange updates daily. You deserve facts, not fluff.

If you’re a business owner, student, or traveler, bookmark this page and subscribe for alerts on:

• Naira to Dollar Rates

• CBN Announcements

• Forex Market News

Have you exchanged dollars recently? What rate did you get? Drop your experience in the comments!

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