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April 17, 2025: Black Market Dollar to Naira Exchange Rate Today

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By Okay.ng
Published: April 17, 2025
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As of Thursday, April 17, 2025, the black market exchange rate for the US Dollar to Nigerian Naira is a significant concern for businesses, travelers, and citizens. The exchange rate today stands at: ₦1,600.80 per $1

Contents
Summary of Today’s Dollar to Naira RateDollar to Naira Black Market Rate BreakdownNaira to Dollar Conversion (NGN to USD)What’s Driving the Exchange Rate?Key Highlights for April 17, 2025

This rate reflects a slight depreciation of -0.43% from the previous day. Let’s explore the full breakdown and market dynamics shaping this rate.


Summary of Today’s Dollar to Naira Rate

  • Current Rate: ₦1,600.80
  • Change Since Yesterday: -0.43%
  • Trend This Week: -2.09% over 7 days
  • Weekly High: ₦1,636.71 on April 10, 2025
  • Weekly Low: ₦1,589.45 on April 14, 2025
  • Largest Daily Change: April 10, -2.25%

Dollar to Naira Black Market Rate Breakdown

USD AmountNGN Equivalent
1 USD₦1,600.80
3 USD₦4,802.40
5 USD₦8,003.99
10 USD₦16,007.99
50 USD₦80,039.95
100 USD₦160,079.91
500 USD₦800,399.55
1,000 USD₦1,600,799.10
10,000 USD₦16,007,991.00

Naira to Dollar Conversion (NGN to USD)

NGN AmountUSD Equivalent
₦1$0.00062469
₦10$0.00625
₦100$0.06247
₦1,000$0.62469
₦10,000$6.25
₦100,000$62.47

What’s Driving the Exchange Rate?

Several factors are influencing the current black market exchange rate in Nigeria:

  • High demand for dollars: Importers, travelers, and students abroad continue to demand foreign currency.
  • Scarcity of forex supply: Official forex allocations from the Central Bank of Nigeria (CBN) remain limited, pushing demand to the parallel market.
  • Inflationary pressure: Ongoing inflation continues to erode the value of the naira.
  • Speculation and arbitrage: Many individuals and businesses buy dollars in anticipation of future depreciation, further pushing up demand.

Key Highlights for April 17, 2025

  • Despite CBN’s tightening monetary policy and interventions, the parallel market remains volatile.
  • Forex scarcity continues to drive activity in the black market.
  • Exchange rate movements this week have shown signs of instability, with daily fluctuations influenced by geopolitical and economic events.
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TAGGED:DollarDollar to NairaNaira
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Dollar/Naira Rates

Dollar to Naira Exchange Rate

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Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

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