The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Monday, August 17, 2026, as the United States dollar traded at ₦1,407 on the buying side and ₦1,420 on the selling side across major Bureau De Change (BDC) markets.
According to information obtained from Bureau De Change operators, dealers are buying one US dollar from Nigerians at approximately ₦1,407, while Nigerians seeking to purchase dollars are paying about ₦1,420 per dollar.
The latest exchange rate reflects a relatively stable parallel market despite continued demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling overseas obligations. Currency dealers said trading activity remained balanced as improved liquidity in the official market continued to support sentiment.
Black market exchange rates are determined by prevailing demand and supply conditions and may vary slightly depending on location, transaction size and individual Bureau De Change operators.
How Much Is Dollar to Naira Today in Black Market?
For those asking, “How much is Dollar to Naira today in black market?”, below is the prevailing exchange rate as of Monday, August 17, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | ₦1,407 | ₦1,420 |
The ₦1,407 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the ₦1,420 selling rate represents the amount customers pay to purchase one US dollar from the parallel market.
At the prevailing rates:
- Selling $100 would fetch approximately ₦140,700.
- Buying $100 would cost approximately ₦142,000.
- Selling $1,000 would yield about ₦1.407 million, while purchasing $1,000 would cost approximately ₦1.42 million.
Naira Holds Firm in Parallel Market
The latest Dollar to Naira exchange rate suggests the naira has remained broadly stable in the parallel market despite sustained demand for the greenback.
Market participants attributed the relative stability to improved foreign exchange liquidity in the official market, stronger external reserves and continued policy measures aimed at enhancing confidence in Nigeria’s foreign exchange market. Nevertheless, demand from businesses and individuals continues to support activity in the parallel market.
Factors Influencing the Dollar to Naira Exchange Rate
Several economic factors continue to influence the movement of the Dollar to Naira exchange rate, including:
- Demand for foreign exchange from importers, manufacturers and travelers.
- Availability of US dollars through official foreign exchange channels.
- Nigeria’s crude oil export earnings and external reserve position.
- Diaspora remittances and foreign investment inflows.
- Monetary policy decisions and foreign exchange reforms.
- Inflation expectations and overall macroeconomic conditions.
These factors continue to determine the value of the naira in both the official and parallel foreign exchange markets.
Official Dollar to Naira Exchange Rate
Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN). The latest official Nigerian Foreign Exchange Market (NFEM) rate stood at about ₦1,357.61 per US dollar, significantly below the parallel market rate.
The official exchange rate differs from the black market rate because the two markets operate under different pricing mechanisms, liquidity conditions and regulatory frameworks.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil receipts, investor confidence, external reserves, diaspora remittances and monetary policy developments. Continued improvements in official dollar supply could help support the naira, while sustained demand in the parallel market may keep exchange rates around current levels.
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