Unofficial exchange rate for US Dollars to Nigerian Naira on the 31st of August, 2025
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The Central Bank of Nigeria (CBN) has set a range for the exchange rate of the US Dollar to the Nigerian Naira today, with the highest rate standing at ₦1534 and the lowest at ₦1525. However, it's important to note that the CBN does not recognize the parallel market, also known as the black market.
In the black market, the buying rate for a dollar is ₦1545, while the selling rate is ₦1527. On Saturday, 30th August, 2025, the exchange rate at Lagos's parallel market was ₦1545 for buying and ₦1527 for selling.
For individuals who wish to engage in Forex, the CBN directs them to approach their respective banks. It's worth mentioning that prices for buying or selling forex may vary from the rates captured in this article.
Looking ahead to September, the parallel market exchange rate for 1 US Dollar (USD) to Nigerian Naira (NGN) on the 1st of September, 2025, is approximately 1,528.32 NGN. This rate represents the mid-market value and may differ slightly on the parallel market. The exchange rate for this figure was obtained from sources at Bureau De Change (BDC).
As always, it's crucial to stay informed about the latest exchange rates to make informed decisions when dealing with foreign currency.
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