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Naira Black Market Exchange Rate Today 15 October 2025

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By CredReviews

The Naira Black Market Exchange Rate as Today 15 October 2025 is Buying 1485

DOLLAR and selling for 1500 Naira.

This is an updated article on the Recent Naira Black Market Exchange Rate For Today being 15th of October 2025


Looking for today’s Naira black market exchange rate update? You’ve come to the right place. This detailed guide provides the most recent exchange rates of the Nigerian Naira against major global currencies such as the US Dollar (USD), British Pound (GBP), Euro (EUR), Canadian Dollar (CAD), and others. We also explore what drives the daily changes, how the black market affects Nigeria’s economy, and practical ways to navigate the foreign exchange market.

Current Black Market Exchange Rates (15 October 2025)

The black market, also called the parallel market or Aboki FX, remains the most referenced source for individuals and small businesses who need foreign currency quickly. Below are today’s indicative rates from reliable Lagos and Abuja dealers.

CurrencyBuying Rate (₦)Selling Rate (₦)
US Dollar (USD)₦1,482.86₦1,484.59
British Pound (GBP)₦2,003.86₦2,006.20
Euro (EUR)₦1,724.26₦1,726.27
Canadian Dollar (CAD)₦1,058₦1,068
Australian Dollar (AUD)₦900₦1,000
South African Rand (ZAR)₦86.50₦86.56
Chinese Yuan (CNY)₦205₦220
UAE Dirham (AED)₦400₦420

Note: Rates may vary depending on city, time of day, and dealer availability. Always confirm rates before transacting.

CBN Official Rate vs. Black Market Rate

The Central Bank of Nigeria (CBN) currently pegs the official exchange rate at around ₦1,310 per US dollar, while the black market rate hovers near ₦1,485. This discrepancy highlights the ongoing foreign exchange imbalance caused by limited dollar supply and rising demand from importers, travelers, and investors.

Market TypeUSD/NGN RateDifference
CBN Official Market₦1,310—
Black Market (Parallel)₦1,484₦174 higher

The black market continues to dominate due to accessibility and faster transactions. Many individuals prefer the parallel market because of the delay and strict requirements involved in obtaining forex from banks and official sources.

Why Is the Naira Falling Against the Dollar?

Several factors contribute to the continuous depreciation of the Naira in both the official and parallel markets. Understanding these causes can help policymakers and citizens better anticipate future trends.

  • Reduced Oil Revenue: Nigeria’s oil exports remain unstable, and crude oil theft and underproduction reduce dollar inflows.
  • High Import Demand: Heavy reliance on imported goods puts pressure on foreign currency reserves.
  • Inflation: Persistent inflation weakens local purchasing power, driving more people toward holding foreign currency.
  • Speculation: Many traders hoard dollars expecting further Naira decline, creating artificial scarcity.
  • Policy Uncertainty: Inconsistent government policies on forex access and interest rates discourage investors.

How to Get the Best Exchange Rate in Nigeria

Here are effective ways to get the best value when buying or selling foreign currency in Nigeria:

  1. Compare Dealers: Check rates from different sources before making transactions.
  2. Use Licensed BDCs: Deal only with approved Bureau de Change operators to avoid fraud.
  3. Monitor Daily Updates: Visit trusted sites like Credreviews.space for daily FX trends.
  4. Stay Calm: Avoid panic buying, which can trigger short-term spikes.
  5. Use Digital Channels: Peer-to-peer (P2P) platforms often offer competitive rates for verified users.

 Economic Impact of the Black Market on Nigeria

The black market exchange rate significantly affects Nigeria’s economy. Below are the key areas of impact:

1. Inflationary Pressure

As the Naira weakens, importers pay more for foreign goods. This increase in cost trickles down to consumers, resulting in higher prices for fuel, electronics, and even food items.

2. Business Uncertainty

Businesses struggle to plan when exchange rates are unstable. Many importers hold back on purchases, waiting for a more favorable rate, which slows down production and supply chains.

3. Investor Confidence

Foreign investors prefer stable economies. When currency volatility becomes extreme, it discourages investment inflow and hampers economic growth.

4. Cost of Living

Ordinary citizens feel the brunt of a weak Naira as the prices of basic commodities increase. Transportation, education, and rent costs rise sharply with each dip in the currency’s value.

Naira to Major Currency Trends

The table below highlights how the Naira is currently performing against some major world currencies as of 10 October 2025:

CurrencyExchange Rate (₦)Trend
USD₦1,484🔺 Rising
GBP₦2,006🔺 Increasing
EUR₦1,726🔺 Rising
CAD₦1,068➖ Stable
CNY₦220➖ Stable

Daily Updates and FX News

Exchange rates fluctuate throughout the day based on supply, demand, and market speculation. Credreviews.space provides daily, accurate updates sourced from Aboki dealers and trusted data aggregators. Bookmark our page and check each morning for new rates before you trade or travel abroad.

How to Protect Your Money from Naira Depreciation

While the Naira continues to weaken, there are proactive steps individuals can take to protect their earnings and savings:

  • Invest in Assets: Diversify into tangible assets such as real estate, gold, or local agriculture investments.
  • Use Forex Savings Accounts: Some Nigerian banks allow customers to save in dollars, pounds, or euros.
  • Track Inflation: Keep an eye on inflation rates to anticipate changes in purchasing power.
  • Learn Currency Trends: Understanding currency charts helps you know when to buy or sell forex.
  • Follow Economic Policies: Stay informed about CBN policies and how they may affect the forex market.

The Naira black market exchange rate today, 13 October 2025, indicates that Nigeria’s currency remains under pressure, with the dollar trading around ₦1,484. The gap between official and parallel markets persists, driven by inflation, speculation, and weak dollar inflows. Until foreign investment rises and oil output stabilizes, Naira volatility may continue.

Daily Verified Exchange Rates — Stay Updated with Credreviews.space

For the most accurate and verified daily exchange rates, visit Credreviews.space. Our platform provides reliable and up-to-date Naira Black Market Exchange Rate updates to help you make informed decisions for business, travel, and online transactions.

Whether you're checking the Dollar to Naira rate today, comparing Naira to Pound rates, or tracking the Euro to Naira exchange rate, Credreviews.space ensures you stay informed with real-time verified market data.

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