1 Dollar to Naira Today – Current Exchange Rate (Black Market & Official)

📅 Updated: [Saturday, July 12, 2025]

How much is 1 Dollar to Naira today? The exchange rate of 1 USD to NGN (Naira) varies depending on whether you are checking the official CBN rate, the parallel market (black market) rate, or commercial bank rates.

1 USD to NGN Exchange Rates Today

Market Type Buying Rate (₦) Selling Rate (₦)

Black Market (Aboki FX) Buy: ₦1540, Sell: N1550.

CBN Official Rate ₦1530

Bank Rate (GTB, Zenith, etc.) N1541

Peer-to-Peer (P2P) Crypto Market ₦1531

 ⚠️ Note: Rates fluctuate hourly. Bookmark this page to get real-time updates on the Dollar to Naira exchange rate.

 This Guide will explain:

1 Dollar to Naira today

Black market dollar to naira exchange rate

USD to NGN black market

Dollar to naira bank rate

AbokiFX dollar rate

Parallel market exchange rate

Dollar to naira CBN rate

How much is 1 dollar in naira today?

Current dollar to naira exchange rate

Dollar to naira forecast

🧾 What Is the Black Market Dollar to Naira Rate Today?

The black market, also known as the parallel market, offers higher exchange rates than the official market.

Currency Converter

It is the go-to option for many Nigerians due to the scarcity of forex in banks.

📍Lagos (Alaba, Ikeja) – ₦1540–₦1550

📍Abuja (Wuse) – ₦₦1540–₦1550

📍Uyo, Port Harcourt, Kano – ₦₦1540–₦1550

🏦 Official CBN Dollar to Naira Rate

The Central Bank of Nigeria (CBN) provides a lower rate, mainly used for government transactions and international trade. It does not reflect what most Nigerians experience in reality.

🟢 Today’s CBN rate: ₦1530

📌 You can Find it on the CBN Official Website ( CBN website

⚠️ The CBN discourages black market trading, but due to limited access to FX, most businesses still rely on the parallel market.

🏦 Commercial Banks Dollar to Naira Rate

Banks like GTB, Zenith, First Bank, and Access often provide USD to Naira rates higher than the CBN but lower than the black market.

🏧 GTBank Dollar to Naira rate today: Buy ₦1440 and Sell N1450

🏧 First Bank rate today: ₦1525

🏧 Access Bank rate today: Buy ₦1440 and Sell N1450

Read this also Nigerian Naira Today, Real-time Update for you

📊 P2P and Cryptocurrency Market Dollar to Naira Rate

Many Nigerians now buy dollars using P2P platforms like Binance, Paxful, and KuCoin.

💻 P2P USD/NGN Rate Today (USDT/NGN): The current price of P2P converted to Nigerian Naira (NGN) is ₦18.74.

✅ Instant transfer, flexible pricing

📈 Factors Affecting Dollar to Naira Exchange Rate

1. Inflation and Economic Instability

2. Oil Prices (Nigeria’s major foreign exchange source)

3. CBN Foreign Reserve

4. Political Environment

5. Demand vs Supply of Dollar

6. Forex Policies and Government Regulations

📌 1 Dollar to Naira – Monthly Historical Chart

Month CBN Rate Black Market Rate

July 2025 ₦1529 - ₦1530

June 2025 ₦1581 - ₦1529

May 2025 ₦1602 - ₦1586

❓ Frequently Asked Questions (FAQs)

🔹 How much is 1 Dollar to Naira in the black market?

As of today, 1 USD = ₦1540 in the black market.

🔹 Why is the black market rate higher than the CBN rate?

The black market is driven by demand and scarcity, unlike the controlled official rates.

🔹 What is the best time to buy dollars in Nigeria?

Buy during forex surplus periods or when oil prices are high and CBN releases more FX.

🔹 Is AbokiFX still reliable?

Yes, it is widely used for estimating parallel market rates, but use multiple sources for confirmation.

🔹 Can I use the bank rate for international transfers?

Yes, but most banks charge extra fees and offer lower-than-market rates.

✅ Summary: Today’s USD to NGN Rate

Source 1 USD = NGN

Black Market ₦1540

CBN Rate ₦1530

Bank Rate ₦1541

P2P Rate ₦1531

🔄 Stay updated on this page for real-time dollar to naira updates. Bookmark and share it with friends and colleagues!

📢 Final Thoughts

The Dollar to Naira exchange rate is more than just numbers—it reflects Nigeria’s economic health, trade conditions, and fiscal stability. Whether you’re a businessperson, student, investor, or traveler, staying informed on current exchange rates helps you make smart financial decisions.