**Dollar to Naira Exchange Rate Today Tuesday October 28 2025 (Black Market & CBN Rates)**

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The dollar to naira exchange rate remained a major point of attention on Tuesday, October 28, 2025, as Nigerians monitored both the black market and the official foreign exchange window for the latest pricing of the U.S. currency.

In the parallel market, also widely referred to as the black market or Aboki FX, reports from Bureau De Change operators in Lagos indicated that the dollar was being bought at ₦1,485 and sold at ₦1,499. These figures reflected the informal market trend at the time, where rates often move differently from the official window.

According to Gossip News Now, the Central Bank of Nigeria continued to distance itself from black market transactions, maintaining its long-standing position that foreign exchange deals should be carried out through banks and authorized dealers rather than through unofficial channels.

At the official market, the naira traded within a narrower range. Available figures placed the lowest rate at ₦1,450 and the highest at ₦1,457, highlighting the gap that still existed between the regulated market and the parallel market.

That difference once again underscored the reality of Nigeria’s forex environment, where official and unofficial exchange rates often tell slightly different stories about demand, supply, and accessibility. While the official window may offer lower rates on paper, many individuals and businesses still keep an eye on the black market because of speed, availability, and ease of access.

Traders and buyers were also reminded that exchange rates can differ slightly depending on where a transaction takes place and who is handling it. This means the figures quoted in Lagos may not always match what is obtainable in other areas or from different dealers.

Commentary and Analysis

The October 28, 2025 exchange rate snapshot reflects a familiar trend in Nigeria’s currency market: a persistent spread between the black market and the official rate. That gap often shapes public perception, especially when everyday users struggle to access forex through formal channels.

It also shows that exchange rates are about more than numbers alone. Availability, convenience, and market confidence all play a role in determining where people choose to source dollars.

For many Nigerians, the real issue is not just the quoted price of the dollar, but whether foreign exchange can be accessed easily and reliably when needed. That is why both official and parallel market rates continue to attract strong public interest.