GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

Black Market Dollar to Naira Exchange Rate Today – 7th May 2025

Enudi Golden by Enudi Golden
May 7, 2025
in business, Headline, News
Reading Time: 4 mins read
Black Market Dollar to Naira Exchange Rate Today – USD to Naira 13th May 2025
112
SHARES
Advertisements

The dollar to naira rate keeps making headlines, and if you’re here, chances are you’re looking for today’s black market exchange rate – Wednesday, 7th May 2025. Whether you need to exchange dollars for business, personal use, or just want to stay updated, this post gives you the most accurate and up-to-date info on the dollar to naira rate in the parallel (Aboki) market.

We understand how quickly things can change in Nigeria’s forex market, so we’re committed to bringing you real-time figures and what’s influencing them.

READ ALSO

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx?

The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market, also known as black market, as of 7th May 2025, is N1,610 for 1 USD.

This rate is often sourced from the latest data provided by Bureau De Change (BDC) operators.

 

How much is a Dollar to Naira today in the Black Market?

What is the Dollar to Naira Exchange Rate at the Black Market, especially the Aboki Fx?

Because of the dynamics of supply and demand in the informal foreign exchange market, the Central Bank of Nigeria (CBN) official rates often differ significantly from those in the black market.

As of today, 7th May 2025, the black market buying rate for the US dollar is N1,600 while the selling rate is N1,610.

These rates change from time to time during the day, influenced by various factors including economic conditions, market speculation, and government policies.

The dollar-to-naira exchange rate in the black market has continued to fluctuate, reflecting the economic challenges and forex shortages in Nigeria.

In contrast to the black market, the Central Bank of Nigeria (CBN) maintains an official exchange rate. Today, the CBN rate for one dollar is N1,606.64.

The disparity between the official and black market rates highlights the pressure on the naira and the challenges in the country’s forex market.

 

 

Black Market Exchange Rate Today

Foreign Currency Buying rate Selling rate
DOLLAR ($USD) N1,600 N1,610
POUNDS STERLING  (GBP) N2,120 N2,140
EURO (EUR) N1,780 1,800

 

CBN Exchange Rate Today

Foreign Currency Buying rate Selling rate
DOLLAR ($USD) N1,605.64 N1,606.64
POUNDS STERLING (GBP) N2,150.27 N2,151.61
EURO (EUR)

N1,823.68

N1,824.82

YUAN (CNY)

N222.49

N222.63
SAUDI RIYAL (SAR)

N428.07

N428.34

 

CRYPTOCURRENCY

At the time of posting

BITCOIN

1 BTC: NGN153M

1 NGN = 0.000000078BTC

ETHEREUM

1 ETH: NGN 2.9M

1 NGN: 0.00000034ETH

Variations in Forex Rates

Forex rates in Nigeria vary across different markets and platforms. The black market, official CBN rates, and rates offered by commercial banks and international money transfer operators all differ.

This discrepancy creates arbitrage opportunities and poses challenges for businesses and individuals needing foreign currency for legitimate transactions.

50 Dollars to Naira Today Black Market

For people looking to exchange 50 US dollars today, the rate in the black market will be approximately N80,000 if obtained at the buying rate of N1,600  per dollar.

For those buying from retailers, it would cost N80,500 at the selling rate of N1,610 per dollar.

 

100 Dollars to Naira Today Black Market

Exchanging 100 US dollars today in the black market will get you N160,000 if sold at the current buying rate.

For those purchasing dollars, it will cost them N161,000. This rate of increase no doubt affects businesses, travelers, and others who need dollars and other foreign currencies for overseas transactions.

500 Dollars to Naira Today Black Market

A larger transaction of 500 US dollars will result in N800,000 at the buying rate and N805,000 at the selling rate in the black market today.

The higher volumes reflect the ongoing need for dollars in the business community.

1,000 Dollars to Naira Today Black Market

For those who need up to 1000 US dollars, the black market will offer N1,600,000 at the buying rate and N1,610,000 at the selling rate.

 

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Is NIYEEDEP the Same as YEIDEP? What You Must Know About Your Application (2025 Update)

Next Post

JAMB Releases 2025 UTME Result Statistics – Over 50% Scored Below 200

Related Posts

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

Federal Government has ordered all Nigerian banks to Flag Accounts with Monthly Transactions Over ₦5 million GoldenNewsNg reports that Nigerian...

Read moreDetails

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB has Awarded ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices GoldenNewsNg reports that the Joint Admissions and...

Read moreDetails

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities

JAMB Cut Off Mark for Civil Engineering

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities    If you’re planning to study Civil Engineering in...

Read moreDetails

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED

NELFUND Begins Disbursement of Funds

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED GoldenNewsNg reports that the Federal Government has announced...

Read moreDetails

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

Official JAMB Cut Off mark for Medicine and Surgery 2025/2026   If you’re planning to study Medicine and Surgery in...

Read moreDetails

Official JAMB Cut Off Mark For Computer Science 2025/2026: Requirements And Admission Tips

JAMB Cut Off Mark For Computer Science

JAMB Cut Off Mark For Computer Science 2025: Requirements And Admission Tips   Are you aiming to study Computer Science...

Read moreDetails

Official JAMB Cut-Off Mark for Law in Nigerian Universities 2025

Official JAMB Cut-Off Mark for Law in Nigerian Universities 2025

JAMB Cut Off Mark For Law in Nigerian Universities 2025 Are you planning to study Law in a Nigerian university...

Read moreDetails

Official JAMB Cut-off Marks for 2025 Admissions Released

Official JAMB Cut-off Marks for 2025 Admissions Released

JAMB has officially released the Cut-off Marks for 2025 Admissions  GoldenNewsNg reports that JAMB has announced 2025/2026 academic session admission...

Read moreDetails

YEIDEP Disbursement News Today July 8th 2025

YEIDEP Disbursement News Today July 8th 2025

This is the latest YEIDEP Disbursement News Today, July 8th, 2025 The Federal Ministry of Youth Development (FMYD) has released...

Read moreDetails

Apply Now: 2025 FG Technical Teachers Training (Fully Funded)

Apply Now: 2025 FG Technical Teachers Training (Fully Funded)

If you’re a teacher in the technical or vocational space and looking to upgrade your skills without paying a dime,...

Read moreDetails
Load More
Next Post
JAMB Releases 2025 UTME Result Statistics – Over 50% Scored Below 200

JAMB Releases 2025 UTME Result Statistics – Over 50% Scored Below 200

SEARCH ADS

Latest Posts

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million
business

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices
Education

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB Cut Off Mark for Civil Engineering
Education

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities

NELFUND Begins Disbursement of Funds
Education

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities
Education

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

JAMB Cut Off Mark For Computer Science
Daily Guides

Official JAMB Cut Off Mark For Computer Science 2025/2026: Requirements And Admission Tips

Official JAMB Cut-Off Mark for Law in Nigerian Universities 2025
Education

Official JAMB Cut-Off Mark for Law in Nigerian Universities 2025

Official JAMB Cut-off Marks for 2025 Admissions Released
Education

Official JAMB Cut-off Marks for 2025 Admissions Released

YEIDEP Disbursement News Today July 8th 2025
Headline

YEIDEP Disbursement News Today July 8th 2025

Apply Now: 2025 FG Technical Teachers Training (Fully Funded)
Headline

Apply Now: 2025 FG Technical Teachers Training (Fully Funded)

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News