As of September 25, 2025, the black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN) is not readily available from standard sources. However, based on recent trends observed in early May 2025, the black market rates have been fluctuating between ₦1,590 and ₦1,640 per USD. It’s important to note that black market rates can vary significantly depending on factors such as location, demand, and economic conditions.NgnRates
Important Considerations
Volatility: Black market rates are highly volatile and can change rapidly within short periods.
Legality: Engaging in black market currency exchanges may be illegal and carries risks, including potential fraud and lack of legal recourse.
Official Channels: For safer and more reliable transactions, consider using official financial institutions or licensed currency exchange services.
Read Also: Dollar To Naira Black Market Exchange Rate Today, 24th September 2022
FAQs on Dollar to Naira Black Market Exchange Rate
What is the black market exchange rate for USD to NGN on September 25, 2025?
Specific rates for this date are not available. However, recent data from early May 2025 indicates rates ranging between ₦1,590 and ₦1,640 per USD. NgnRates
Why do black market exchange rates differ from official rates?
Black market rates are influenced by factors such as foreign currency scarcity, inflation, and economic instability, leading to higher demand and rates compared to official channels.
Is it safe to exchange currency on the black market?
Exchanging currency on the black market carries significant risks, including legal issues, fraud, and lack of consumer protection. It’s advisable to use official and licensed exchange services.Exchange Rates UK
How can I find the most accurate exchange rates?
For official rates, consult the Central Bank of Nigeria or reputable financial institutions. For black market rates, while less reliable, some websites and forums provide user-reported data, but these should be approached with caution.
What factors influence fluctuations in the USD to NGN exchange rate?
Several factors affect exchange rates, including Nigeria’s foreign reserves, oil prices, inflation rates, monetary policies, and overall economic performance.
For the most accurate and up-to-date information, always consult official financial sources and exercise caution when dealing with currency exchanges.