Unofficial USD to NGN Exchange Rate on August 8, 2025
Dollar to Naira Exchange Rates: Black Market and Central Bank Rates Compared on 7th August 2025
On the 7th of August 2025, the black market exchange rate for a US dollar to Naira in Lagos was approximately ₦1,528 to ₦1,530, according to reports from Bureau De Change (BDC) and financial historical data sites.
During this day, the black market rates hovered around this range, as reported on Instagram and various financial platforms. It's important to note that this rate was slightly below the rates reported for the 8th and 9th of August, where the black market rate moved closer to ₦1,545–₦1,565 per dollar.
In contrast, the official Central Bank of Nigeria (CBN) rates for the same day ranged from ₦1,531 (lowest) to ₦1,535 (highest). It's important to mention that the CBN does not recognize the parallel market (black market) and encourages individuals who wish to engage in Forex to approach their respective banks instead.
It's worth noting that the black market rates may differ from the rates provided in this article due to various factors such as regulations and supply-demand imbalances.
Individuals are advised to consult their banks or reliable financial sources for the most accurate and up-to-date exchange rates. This article is published by our website, a division of Polance Media Inc.
In summary, on the 7th of August 2025, the black market exchange rate for a US dollar to Naira in Lagos was approximately ₦1,528 to ₦1,530, while the official CBN rates ranged from ₦1,531 to ₦1,535.
- The black market exchange rate for a US dollar to Naira in Lagos was approximately ₦1,528 to ₦1,530 on 7th August 2025, but the Central Bank of Nigeria (CBN) rates ranged from ₦1,531 to ₦1,535 for the same day.
- On the 7th of August 2025, the black market rates hovered around ₦1,528 to ₦1,530, while reports indicated that the rates moved closer to ₦1,545–₦1,565 per dollar on the 8th and 9th of August.
- It's crucial for individuals to consult their banks or reliable financial sources for the most accurate and up-to-date exchange rates, as the black market rates may differ due to various factors like regulations and supply-demand imbalances.
- In Nigeria, the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and encourages individuals who wish to engage in Forex to approach their respective banks instead.
- Navigating personal-finance decisions like investing in businesses or the foreign exchange (Forex) market requires staying informed about the current exchange rates, such as the US dollar to Naira rates in Lagos as compared between the black market and the Central Bank of Nigeria (CBN) rates.
