Dollar to Naira Exchange Rate: Wednesday, August 13, 2025
As of Wednesday, August 13, 2025, the exchange rate for 1 United States Dollar (USD) to Nigerian Naira (NGN) is approximately ₦1,555 in the parallel market. This marks a slight appreciation from the previous day’s rate of ₦1,560, indicating a modest strengthening of the Naira against the Dollar.
Official Exchange Rate
At the official Nigerian Autonomous Foreign Exchange Market (NAFEX), the Naira closed at ₦1,537.09 per Dollar on Tuesday, August 12, 2025. This represents a slight depreciation from the previous day’s rate of ₦1,535.92, continuing a trend of gradual weakening observed earlier in the week.
Black Market Rates
In the parallel market, commonly referred to as the “black market,” the exchange rate for 1 USD is approximately ₦1,555. This rate is typically higher than the official rates and can fluctuate based on market demand and supply dynamics.
Central Bank of Nigeria (CBN) Rates
The Central Bank of Nigeria (CBN) does not officially recognize the parallel market rates and encourages individuals and businesses to engage in foreign exchange transactions through authorized dealers. The CBN’s official rates are determined through the NAFEX window and are subject to change based on economic factors and monetary policy decisions.
Market Outlook
The Naira’s performance against the Dollar remains influenced by various factors, including global oil prices, foreign investment flows, and domestic economic policies. Market participants and analysts will continue to monitor these elements to assess the Naira’s future trajectory in both official and parallel markets.
Note: Exchange rates are subject to change and can vary between different financial institutions and currency exchange platforms. For the most accurate and up-to-date rates, it’s advisable to consult official sources such as the Central Bank of Nigeria or reputable financial services.
