Dollar to Naira Official and Black Market Exchange Rate Today, Wednesday, October 8th 2025

Dollar to Naira Official and Black Market Exchange Rate Today, Wednesday, October 8th 2025

The Nigerian Naira slightly weakened against the United States dollar in the parallel market as demand for foreign currency rebounded mid-week.

On Wednesday, October 8th 2025, the Dollar to Naira Black Market exchange rate traded at ₦1,460 per dollar for buying and ₦1,470 per dollar for selling.

This mild depreciation follows two consecutive sessions of gains recorded earlier in the week. Market participants attribute the movement to increased dollar requests from importers and travelers as the new trading month advances.

How Much Is Dollar to Naira Today in Black Market

As of today, Wednesday, October 8th 2025, the Dollar to Naira Black Market rate is:

• Buying Rate: ₦1,460 per $1
• Selling Rate: ₦1,470 per $1

These figures reflect the average rates quoted by major parallel-market dealers in Lagos and Abuja. Although demand remains strong, some traders noted slight moderation in speculative purchases compared with last week.

For verified official rates, consult the Central Bank of Nigeria (CBN).

Dollar to Naira Black Market vs Official Rate

• Black Market Rate: ₦1,460 / ₦1,470
• Official Rate (CBN): Updated daily on the CBN website.
• Market Monitors: Trusted platforms such as Investors King and Aboki Forexpublish timely updates on Dollar to Naira Black Market movements.

The persistent spread between the official and parallel markets highlights continuing supply-demand imbalances in Nigeria’s foreign-exchange system.

Economic Impact of the Current Rate

1. Importers and Manufacturers: Limited access to official forex channels keeps production costs high, fueling inflation.
2. Consumers: Rising prices for imported goods and fuel erode purchasing power.
3. Students and Travelers: Those paying tuition or travel expenses abroad face sustained financial pressure.
4. Investors: Volatility in exchange rates discourages long-term capital inflows and complicates portfolio management.

Key Drivers of the Dollar to Naira Black Market Rate

• Forex Liquidity Shortage: Dollar supply from official sources remains insufficient to meet national demand.
• Speculative Trading: Anticipation of further Naira weakness prompts hoarding of foreign currency.
• Oil Revenue Fluctuation: Global oil-price swings directly affect Nigeria’s reserves and dollar inflows.
• Macroeconomic Uncertainty: High inflation and inconsistent policy execution continue to weigh on market confidence.

Market Outlook

Analysts expect mild volatility through the rest of the week as traders react to monetary policy expectations and crude-oil revenue data. Sustained appreciation will depend on improved forex liquidity, stronger non-oil exports, and consistent inflows from remittances and investors.

While the CBN’s interventions aim to narrow the rate gap, true stability will require comprehensive structural reforms and reduced dependence on imports.

Conclusion

The Dollar to Naira Black Market exchange rate today, Wednesday, October 8th 2025, stands at ₦1,460 for buying and ₦1,470 for selling. The Naira’s modest decline highlights the delicate balance between supply constraints and renewed market demand.

For accurate and real-time updates on Dollar to Naira, rely on reputable financial platforms such as Investors King, Aboki Forex, and the CBN.

Nigeria’s forex stability in October will hinge on policy consistency, export performance, and sustained investor confidence.

About Author