Current Black Market Dollar to Naira Exchange
Here is the latest parallel market exchange rate for October 29, 2025. Bureau De Change (BDC) operators in Lagos quoted the US dollar at ₦1495 for sellers and ₦1480 for buyers.
These black market rates reflect currency trading outside official banking channels. Market dynamics caused minor daily fluctuations.
CBN Stance on Parallel Market
The Central Bank of Nigeria does not recognize unofficial forex markets. They have consistently directed Nigerians to conduct foreign exchange transactions through authorized banks.
This policy aims to stabilize the Naira and regulate currency flows. Individuals seeking forex should approach their financial institutions for CBN-approved rates.
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