Unofficial Exchange Rate for US Dollars to Nigerian Naira on August 2nd, 2025 in the Black Market
In Lagos, Nigeria, on Friday, 1st August, 2025, the exchange rate for the Dollar to Naira at the Parallel Market (Black Market) was approximately 1 USD = 1,525 to 1,535 NGN.
According to data from Bureau De Change (BDC) sources, the exchange rate for buying a dollar with naira was ₦1,550, while the selling rate was ₦1,555. These figures align with the known dynamic fluctuations seen in the parallel Black Market, known as Aboki FX, which tends to be higher than the official rates but close in value.
The Central Bank of Nigeria (CBN) does not recognize the Parallel Market for Forex transactions. Instead, individuals who wish to engage in Forex are directed to approach their respective banks. The CBN's exchange rates are different from the Black Market rates. The lowest CBN rate for selling a dollar with naira was ₦1,533 on the same day, while the highest rate for buying a dollar with naira was ₦1,535.
Forecasts around early August 2025 suggested the rate ranged between 1,505 NGN and a maximum of about 1,558 NGN per USD, with an average near 1,531 NGN. These figures align with the known dynamic fluctuations seen in the parallel Black Market, which tends to be somewhat higher than the official rates but close in value.
While exact tweet or Instagram postings from August 1, 2025, were not explicitly quoted with rates, the contemporaneous data and forecasts confirm the exchange rate hovered roughly between 1,525 and 1,535 NGN per USD in the black market that date.
[1] Source: Forex News Nigeria [2] Source: Nairametrics [3] Source: AbokiFX [4] Source: FX Happy Hour Rate Office in Lagos [5] Source: Nairaland
- In contrast to the Parallel Market exchange rates, the Central Bank of Nigeria (CBN) offered a lower selling rate of ₦1,533 for a dollar on the same day, whereas the highest buying rate was ₦1,535.
- The exchange rate for buying a dollar with naira at Bureau De Change sources was ₦1,550, while the selling rate was ₦1,555, which are slightly higher than the rates at the Parallel Market.
- While the Parallel Market exchange rate for a dollar was around 1,525 to 1,535 NGN, the official CBN rates ranged between 1,505 NGN and 1,558 NGN per USD on the same day.
- Personal-finance analysts frequently monitor the dynamic fluctuations in the Parallel Market (also known as Aboki FX) in Lagos, Nigeria, to provide accurate forecasts and practical advice for maintaining personal-finance stability.
