Unofficial USD to NGN Exchange Rate on Fourth of August, 2025
On August 7, 2025, the black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) in Lagos was approximately between 1555 and 1565 Naira per dollar.
According to one source, the rate was 1560 Naira per dollar on that day, while another source reported a slightly higher rate of 1565 Naira. These slight discrepancies are common in black market rates due to the rapid fluctuations caused by supply and demand dynamics, political and economic factors, and informal trading conditions.
It is important to note that this rate is significantly higher than the official interbank exchange rate, which was approximately 1526 Naira per Dollar on August 7, 2025. This premium on the black market is typical.
As for today, the 3rd of August, 2025, the buying rate for a dollar to naira at the Lagos Parallel Market (Black Market) is ₦1555, and the selling rate is ₦1560.
The Central Bank of Nigeria (CBN) does not recognize the Parallel Market (Black Market) and encourages individuals who want to engage in forex transactions to approach their respective banks. It is essential to remember that the rates for buying or selling forex may differ from the rates captured in this article, as prices can vary.
For the exchange rates of the previous days (2nd, 1st August, 31st July, 30th July, 29th July 2025), you can find more information in related articles. It is not advisable to rely solely on the Black Market for forex transactions due to the potential for price variations.
- On August 7, 2025, the black market in Lagos showed varying rates for the US Dollar (USD) and Nigerian Naira (NGN), with reports ranging from 1560 to 1565 Naira per dollar.
- The Central Bank of Nigeria (CBN) advises against relying on the Parallel Market (Black Market) for forex transactions due to potential price fluctuations.
- In contrast to the black market, the official interbank exchange rate for a dollar to Naira on August 7, 2025, was approximately 1526 Naira.
- Personal-finance management should consider the implications of such exchange rate discrepancies when investing or conducting business in Nigeria.
- The buying rate for a dollar to naira at the Lagos Parallel Market (Black Market) on August 3, 2025, was ₦1555, and the selling rate was ₦1560.
