Latest Dollar to Naira Exchange Rate Today, Friday, March 28, 2025.
The exchange rate between the U.S. Dollar (USD) and the Nigerian Naira (NGN) remains a crucial topic for businesses, travelers, and investors. As of today, Friday, March 28, 2025, the exchange rates in both the official and parallel markets have experienced fluctuations, reflecting ongoing economic trends.
Official Dollar to Naira Exchange Rate
The Central Bank of Nigeria (CBN) sets the official exchange rate, which is significantly lower than the parallel market rate. According to the latest data:
Dollar to Naira exchange rate for today, Friday, March 28, 2025, is approximately ₦1,519 to ₦1,542 in the official market.
| Source | Exchange Rate (₦ per $1) | Date |
|---|---|---|
| CBN | ₦1,532.39 | March 25, 2025 |
| Yahoo Finance (Opening) | ₦1,531.50 | March 27, 2025 |
| Yahoo Finance (Closing) | ₦1,533.52 | March 27, 2025 |
The official exchange rate is the rate at which commercial banks and financial institutions trade forex under CBN regulations. However, due to forex scarcity, many individuals and businesses turn to the black market.
Black Market Dollar to Naira Exchange Rate
The parallel market (black market) offers a different exchange rate, often higher than the official rate. Reports from the Lagos parallel market on March 27, 2025, indicate:
In the black market, the Dollar to Naira exchange rate as of today, March 28, 2025, is approximately ₦1,560 for buying and ₦1,570 for selling.
| Transaction Type | Exchange Rate (₦ per $1) |
|---|---|
| Buying Rate | ₦1,555 |
| Selling Rate | ₦1,560 |
Other reports suggest an average black market rate of ₦1,540 per USD, reflecting the fluctuations observed throughout the week.
Recent Dollar to Naira Fluctuations
Over the past week, the exchange rate has varied significantly:
| Date | Lowest Rate (₦) | Highest Rate (₦) |
|---|---|---|
| March 24, 2025 | ₦1,566.29 | ₦1,566.29 |
| March 27, 2025 | ₦1,514.92 | ₦1,533.52 |
These fluctuations highlight the volatility in the forex market, influenced by factors such as inflation, forex reserves, and government policies.
Government’s Stance on Forex Exchange
The CBN does not officially recognize parallel market rates and advises individuals to conduct foreign exchange transactions through authorized financial institutions. The apex bank has implemented policies to stabilize the naira, including forex interventions and restrictions on certain transactions.
Experts recommend businesses and individuals monitor the forex market closely and use official channels to avoid excessive rates and fraud in the black market.
What you Should Know
The dollar to naira exchange rate remains a key economic indicator in Nigeria. With ongoing market fluctuations, staying informed about both official and parallel market rates is crucial for businesses and individuals making financial decisions.
For real-time updates on exchange rates, consult financial institutions, forex trading platforms, or the Central Bank of Nigeria.
