The naira continues its downward slide against the U.S. dollar in the parallel market as demand for foreign currency remains high across Nigeria.

As of today, Friday, July 19, 2025, the exchange rate at the Lagos black market, also known as the Aboki FX or parallel market, stands at:

Buying Rate: ₦1530 per $1

Selling Rate: ₦1540 per $1

This means that if you’re looking to sell dollars, you’ll get ₦1530 for each dollar, while buyers will have to pay ₦1540 to purchase a single dollar on the street.

This rate shows a slight depreciation compared to recent weeks, reflecting the ongoing pressure on the naira due to high demand for dollars and limited forex supply from official channels.

CBN Official Exchange Rate – July 19, 2025

While the Central Bank of Nigeria (CBN) does not officially recognize the black market, here’s a snapshot of the rates in the official market:

Highest CBN Rate: ₦1536

Lowest CBN Rate: ₦1528

The CBN continues to encourage Nigerians to use official banking channels for forex transactions, warning against the risks associated with dealing in the parallel market.

The gap between the official rate and the black market rate highlights the persistent forex challenges in the country. With limited access to dollars through banks and formal financial institutions, many individuals and businesses turn to the parallel market to meet their forex needs.

If you're planning to exchange dollars to naira or vice versa, keep a close eye on market trends and always prioritize secure and legitimate forex sources.

Stay tuned for daily updates on the dollar-to-naira exchange rate.