Understanding the current Dollar to Naira exchange rate is essential for anyone dealing with international business, travel, or remittances in Nigeria. As of Tuesday, April 8, 2025, both official and black market exchange rates reflect ongoing shifts in the country’s foreign exchange dynamics.
In this article, we provide a clear and updated overview of the USD to NGN rates, helping you stay informed and make smarter financial decisions.
Official Dollar to Naira Rate Today – April 8, 2025
The Central Bank of Nigeria (CBN) official rate for April 8, 2025:
CBN Exchange Rate Table
| Date | NFEM Rate (₦/USD) | Highest Rate | Lowest Rate | Closing Rate | Average Rate |
|---|---|---|---|---|---|
| April 8 | ₦1,567.02 | ₦1,625.00 | ₦1,519.03 | ₦1,600.00 | ₦1,573.23 |
| April 7 | ₦1,533.60 | ₦1,533.60 | ₦1,533.60 | ₦1,533.60 | ₦1,533.60 |
These figures show a gradual rise in the official rate, pointing to continued pressure on the Nigerian Naira.
Black Market Dollar to Naira Exchange Rate Today – April 8, 2025
For many Nigerians, the black market (or parallel market) remains a more accessible route for foreign exchange. Despite government warnings, demand in this market continues to rise due to limited access through banks.
Black Market Exchange Rate Table
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Black Market (Lagos/Abuja) | ₦1,585 | ₦1,590 |
Please note that the CBN does not recognize the black market, and it’s advisable to approach authorized financial institutions for foreign exchange transactions.
Why Do Exchange Rates Vary So Much?
The gap between official and black market rates stems from multiple factors:
- Foreign exchange supply constraints
- High demand from importers and travelers
- Government regulations limiting access to official forex
These issues create a dual exchange rate system that confuses many and impacts inflation and purchasing power.
Tips for Dealing with Currency Exchange in Nigeria
To make the most of your forex transactions:
- Monitor CBN updates regularly.
- Avoid large transactions in the black market.
- Use verified financial platforms and services.
- Plan ahead for any dollar-related expenses.
By staying informed, you can avoid unnecessary losses and comply with government regulations.
Conclusion: Stay Informed and Stay Safe
The Dollar to Naira exchange rate continues to be a major economic indicator in Nigeria. With ongoing volatility in both official and parallel markets, individuals and businesses must stay alert and act wisely.
Thanks for using our platform to learn about the latest Dollar to Naira exchange rate today, Tuesday April 8, 2025.
You should bookmark this page or check back daily for updates on the USD to NGN exchange rate to make informed decisions and stay ahead in today’s changing economic climate.
