The naira maintained a relatively stable performance against major foreign currencies in the parallel market today, Tuesday, July 22, 2025, as foreign exchange dealers adjusted their rates in response to market sentiment and limited supply.
According to checks by Okay.ng, the Dollar to Naira exchange rate in the black market stands at ₦1,525 per $1 for buying and ₦1,540 per $1 for selling. This represents a marginal improvement in favor of the naira compared to previous trends.
For other major currencies:
- The British Pound (GBP) is being bought at ₦2,100 and sold at ₦2,140.
- The Euro (EUR) is exchanged at ₦1,760 for buying and ₦1,800 for selling.
These figures were obtained from local forex traders in Lagos and Abuja and reflect ongoing volatility in the unofficial market, which continues to influence business and travel decisions across the country.
Okay.ng reports that fluctuations in demand and supply, alongside government interventions in the official window, are key factors driving these rates. The Central Bank of Nigeria (CBN), however, maintains a different rate in the official I&E window, which is often lower than the black market rate.
While the parallel market remains unregulated, it serves as a major reference point for individuals and businesses unable to access official forex channels due to scarcity or bureaucratic delays.
Caution for Users: As always, Nigerians are advised to deal with trusted currency dealers and stay informed on daily trends to avoid losses due to rapid market changes.
Stay with Okay.ng for daily updates on the Dollar to Naira exchange rate and other major currencies.
