Stay updated with the latest Dollar to Naira black market rates and Central Bank of Nigeria (CBN) official rates. Below is the current foreign exchange update for Wednesday, May 7, 2025, as sourced from reliable currency traders and CBN data.
Black Market Exchange Rates (May 7, 2025)
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| Currency | Buy Rate (₦) | Sell Rate (₦) |
|---|---|---|
| Dollar (USD) | 1605 | 1615 |
| Pound (GBP) | 2130 | 2165 |
| Euro (EUR) | 1770 | 1800 |
| Canadian Dollar (CAD) | 1050 | 1150 |
| Rand (ZAR) | 80 | 100 |
| Yuan (CNY) | 200 | 220 |
| Dirham (AED) | 400 | 420 |
| Ghanaian Cedi (GHS) | 90 | 110 |
| Australian Dollar (AUD) | 850 | 1000 |
| CFA Franc (XOF) | 2500 | 2650 |
| CFA Franc (XAF) | 2350 | 2450 |
CBN Official Exchange Rates (May 7, 2025)
| Currency | Rate (₦) |
|---|---|
| Dollar (USD) | 1606.64 |
| Pound (GBP) | 2151.61 |
| Euro (EUR) | 1824.82 |
| Swiss Franc (CHF) | 1951.23 |
| Chinese Yuan (CNY) | 222.63 |
| Saudi Riyal (SAR) | 428.35 |
| South African Rand (ZAR) | 88.15 |
Market Summary – Dollar to Naira Today
The Naira continues to experience pressure in the black market with the USD selling as high as ₦1615. Comparatively, the CBN rate for USD stands at ₦1606.64, reflecting a continuing gap between the official and parallel markets.
Other major currencies including the Pound, Euro, and Canadian Dollar also show similar discrepancies. Traders in Lagos, Abuja, and major cities confirm high demand for forex driven by import costs and limited dollar supply.
For daily updates and real-time information on Dollar to Naira and other currencies, stay connected with Allmedia24.com
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