By JKNewsMedia
FOREGIN EXCHANGE in Nigeria continued to reflect market volatility as the naira traded at fluctuating values across the black market, Bureau De Change operators, and official channels.
Market watchers noted that the rate for the United States (US) dollar depends largely on daily supply and demand, with prices shifting within hours.
According to figures monitored from the parallel market, traders in Lagos exchanged the dollar on Wednesday, 27th August 2025, at varying rates.
Also, sources at the Bureau De Change indicated that dealers bought the dollar at N1,538 and sold at N1,528.
These rates highlight the prevailing difference between the buy and sell sides in the parallel market, where availability of foreign currency determines daily pricing.
Aside that, the Central Bank of Nigeria (CBN) rate and the Bureau De Change market figures diverge significantly, reflecting the gap between official and informal market segments.
The CBN regulates official exchange benchmarks, while the BDC operates based on direct market activity.
Traders emphasised that the black market price does not remain static, as fluctuations occur depending on inflows of dollars into the market.
Reports also show that the naira’s performance against the dollar is influenced hourly by supply volumes and demand pressures.
Dealers explained that individuals purchasing or selling foreign currency in the open market may face changing rates within a single day, adding that the situation reflects Nigeria’s continuing reliance on dollar inflows to stabilise the local currency.
The parallel market remains an active space for transactions outside the official framework, where businesses and individuals often turn when access to official channels is limited.
Fact is, the Bureau De Change sector serves as a key indicator of short-term currency trends, reflecting pressure points in foreign exchange demand across the country, market watchers advise.
Analysts note that while the CBN’s official figures provide a benchmark, the black market remains the most referenced by individuals making immediate dollar purchases.
With demand for the dollar remaining high, the parallel market rates provide a reflection of real-time market activity.
Traders in Lagos cautioned that exchange rates could rise or fall suddenly, depending on dollar inflows, and buyers were advised to confirm prevailing rates before carrying out transactions.
Dealers reiterated that foreign exchange pricing in the parallel market remains highly sensitive to daily shifts in demand and supply.
DISCLAIMER: JKNewsMedia reminds readers that it does not set or determine foreign exchange rates. Official NAFEX figures are obtained from the FMDQOTC website, while black market rates are sourced from dealers and various reporting outlets. The exact rate applicable to transactions may differ from published figures depending on the point of purchase and market dynamics at the time of exchange.
