Black Market Dollar to Naira Exchange Rate Today, Wednesday, June 11th 2025
The Nigerian Naira remained relatively stable against the United States Dollar in the black market today, Wednesday, June 11th, 2025, as demand for foreign exchange continues to be met primarily through unofficial channels.
Despite minor fluctuations, the parallel market continues to reflect the pressure on Nigeria’s local currency due to persistent dollar scarcity and structural challenges in the official foreign exchange system.
According to currency traders in Lagos, Abuja, and Kano, the Dollar to Naira black market exchange rate currently stands at:
| Rate Type | Amount (₦ per $1) |
|---|---|
| Buying Rate | ₦1,590 |
| Selling Rate | ₦1,600 |
These rates show no significant movement compared to the previous day, suggesting temporary market equilibrium driven by relatively stable demand and supply dynamics in the street market.
How Much Is Dollar to Naira Today in Black Market?
Nigerians searching for real-time information frequently ask, “how much is dollar to naira today in black market?”, especially for urgent needs such as paying school fees abroad, settling import bills, or meeting medical and travel expenses.
As of Wednesday, June 11, 2025, the black market exchange rate is ₦1,590 per dollar for buying and ₦1,600 per dollar for selling. These figures may vary slightly by location and transaction volume but remain consistent across major exchange hubs nationwide.
Black Market vs. CBN Official Rate
The gap between the black market rate and the official rate issued by the Central Bank of Nigeria (CBN) continues to reflect the underlying inefficiencies in Nigeria’s forex management. While the official CBN rate currently hovers between ₦1,570 and ₦1,585 per dollar, access to FX at that rate remains limited to a few sectors and government-approved transactions.
Due to these restrictions, many individuals and businesses are left with no choice but to rely on the black market, where dollars are more readily available but at a higher cost.
Why the Black Market Remains Dominant
Several factors continue to drive the demand for foreign currency in the black market, making it the primary source of forex for a large portion of the population:
Limited Official Supply: The CBN’s constrained dollar allocations cannot meet the growing needs of businesses, importers, and individuals.
Import Dependency: Nigeria’s reliance on imported goods continues to increase demand for the dollar.
Inflation and Devaluation: The declining value of the Naira encourages people to hold foreign currency as a hedge.
Remittances via Informal Channels: Many Nigerians abroad prefer to use black market routes to get better exchange value.
Lack of Confidence in FX Policy: Inconsistent monetary policies and multiple exchange rate windows fuel uncertainty, pushing more people toward the black market.
These structural challenges ensure that the black market remains active and influential, regardless of efforts by the government to unify or stabilize the exchange rate.
Outlook for the Week
While the exchange rate appears stable for now, analysts warn that this could change rapidly if demand spikes or dollar supply drops significantly. Crude oil prices, external reserves, and foreign capital inflows will continue to influence Nigeria’s forex environment throughout the week.
Until the CBN can improve liquidity in the official window and restore investor confidence, the black market will remain the go-to source for many Nigerians.
Conclusion
For Wednesday, June 11th, 2025, the Dollar to Naira black market exchange rate is:
₦1,590 per dollar (buying)
₦1,600 per dollar (selling)
Although the Naira has shown slight stability in the parallel market, the long-term outlook remains tied to structural reforms and dollar inflows. The black market will continue to serve as the primary avenue for forex access until broader changes are made in Nigeria’s FX management system.
