Dollar to Naira Black Market Exchange Rate Today, 23 August 2025

The latest update on the Dollar to Naira exchange rate in the black market as of August 23, 2025, shows that the rate is higher than the official Central Bank of Nigeria (CBN) rate. The black market rate is subject to volatility and may change throughout the day based on demand and supply dynamics.

It is advised to conduct transactions with authorized financial institutions to avoid risks associated with the black market. The CBN has published its buying and selling rates for the day and warns against engaging in black market forex trading.

Factors influencing the exchange rate include foreign exchange scarcity, market speculation, political and economic developments in Nigeria and globally, as well as fluctuations in global oil prices. It is essential to verify rates from reliable sources before conducting any financial transactions.