Dollar Sells at ₦1601.85 — a 0.51% Drop from Yesterday
As of 29th April 2025, the Nigerian Naira experienced a modest strengthening in the parallel market, with the dollar selling at ₦1601.85, reflecting a 0.51% decrease from ₦1610 the previous day. This shift underscores ongoing market volatility shaped by foreign exchange (forex) demand, supply pressures, and evolving monetary policies by the Central Bank of Nigeria (CBN).
🔹 USD to NGN (Dollar)
These figures represent prevailing rates in the parallel market, commonly used by businesses and individuals unable to access official forex channels.
Despite recent policy reforms aimed at unifying Nigeria’s exchange rates, the black-market remains active due to several persistent factors:
In early 2025, authorities have stepped up efforts to stabilize the exchange landscape. The CBN’s decision to increase dollar supply and let the Naira float more openly in official markets has yielded initial progress. Nevertheless, Nigeria’s underlying structural challenges — inflation, forex scarcity, and economic uncertainty — continue to shape the black-market terrain.
For live updates, consult trusted sources such as Aboki Forex and the Central Bank of Nigeria.