The Naira continues to face pressure as Nigerians monitor the Dollar to Naira Exchange Rate Today, September 16, 2025. Rates vary across the official Central Bank of Nigeria (CBN) window and the black market (parallel market), with the gap highlighting Nigeria’s persistent forex challenges.
TJ News Nigeria reports that while the CBN has pegged the official rate lower, most businesses and individuals rely on black market operators for dollar transactions, pushing the demand higher in the parallel market.
Official Dollar to Naira Exchange Rate Today (CBN Window)
According to data from the Central Bank of Nigeria (CBN) and the Nigerian Foreign Exchange Market (NFEM), the official Dollar to Naira Exchange Rate Today is:
- ₦1,492 – ₦1,502 per USD
This official window is used mainly by importers, exporters, and businesses with verified foreign exchange requests. The CBN continues to intervene in the market to stabilize the naira and reduce pressure on the parallel market.
Aboki dollar to Naira today black market
In the black market, where many Nigerians source dollars due to limited official supply, the rates are much higher. The Dollar to Naira Exchange Rate Today in the parallel market stands at:
- ₦1,520 per USD (buy)
- ₦1,535 per USD (sell)
This means anyone exchanging naira for dollars will pay up to ₦1,535 per dollar, while those selling dollars will get around ₦1,520.
Why the Dollar to Naira Exchange Rate Today Differs
The gap between the CBN rate and the black market rate is caused by several factors, including:
- High demand for forex by importers, travelers, and students abroad.
- Limited dollar supply at official windows.
- Speculation and hoarding by traders in the parallel market.
- Broader inflationary pressures in Nigeria’s economy.
Impact on Nigerians
The movement in the Black Market and CBN exchange rate dollar to naira today affects different groups in the country:
- Businesses & Importers → higher costs of imported goods and raw materials.
- Students Abroad & Families → increased tuition and living expenses.
- General Citizens → inflation, as businesses pass forex costs to consumers.
Outlook for the Naira
Financial analysts note that unless the CBN expands forex liquidity and restores confidence, the Dollar to Naira Exchange Rate Today will likely remain under pressure. The official rate may stay relatively stable, but the black market is expected to keep dictating real-world transactions for many Nigerians.
Key Takeaways
- Official CBN rate (Sept 16, 2025): ₦1,492 – ₦1,502 per USD
- Black market rate (Sept 16, 2025): ₦1,520 – ₦1,535 per USD
- The wide gap reflects supply shortages and forex dependency.
- The Dollar to Naira Exchange Rate Today directly impacts inflation, business operations, and household spending.
Dollar to Naira Exchange Rate Today, September 10, 2025 – Black Market & CBN Rates
FAQs
1. What is the official Dollar to Naira Exchange Rate Today?
The official CBN/NFEM rate for Tuesday, September 16, 2025, is ₦1,492 – ₦1,502 per USD. This is the rate used for regulated forex transactions like imports, exports, and government-approved deals.
2. What is the black market Dollar to Naira Exchange Rate Today?
In the parallel market, also called the black market or Aboki rate, the dollar trades at around ₦1,520 per USD (buy) and ₦1,535 per USD (sell). This is where most individuals and businesses get forex due to limited supply at official windows.
3. Why is there a difference between the official and black market rates?
The difference in the Dollar to Naira Exchange Rate Today is caused by:
- Limited dollar supply from the CBN.
- High demand from importers, students, and travelers.
- Speculation and hoarding in the parallel market.
- Inflation and macroeconomic instability.
4. How does the Dollar to Naira Exchange Rate Today affect Nigerians?
- Importers pay more for goods and raw materials.
- Students abroad face higher tuition and upkeep costs.
- Businesses adjust prices upward due to forex costs.
- Citizens experience inflation in food, fuel, and essential goods.
5. Can Nigerians abroad get a Tax ID or Dollar account linked to today’s exchange rate?
Yes. Nigerians in the diaspora can obtain a Tax Identification Number (Tax ID) using their National Identification Number (NIN) and operate investment or dollar accounts. However, the rate applied will depend on whether they use the official CBN channel or the black market rate.
