The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Monday, August 24, 2026, as the United States dollar traded at ₦1,400 on the buying side and ₦1,410 on the selling side across major Bureau De Change (BDC) markets.
According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately ₦1,400, while Nigerians seeking to purchase dollars are paying about ₦1,410 per dollar.
The latest exchange rate suggests that the naira has maintained a relatively stable performance in the parallel market despite continued demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling international obligations.
Market participants said trading remained balanced as improved liquidity in the official foreign exchange market helped moderate volatility.
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 24, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | ₦1,400 | ₦1,410 |
The ₦1,400 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the ₦1,410 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 ₦140,000.
- Buying $100 would cost approximately ₦141,000.
- Selling $1,000 would yield about ₦1.40 million, while purchasing $1,000 would cost approximately ₦1.41 million.
Naira Holds Steady Against the Dollar
The latest Dollar to Naira exchange rate indicates that the naira has continued to trade within a narrow range in the parallel market in recent days.
Currency dealers said demand for dollars remains supported by importers, manufacturers, international travelers, businesses settling overseas obligations and Nigerians paying tuition and medical expenses abroad. At the same time, improved foreign exchange inflows and stronger investor confidence have helped prevent sharp swings in the exchange rate.
Factors Influencing the Dollar to Naira Exchange Rate
Several 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 broader 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 official Nigerian Foreign Exchange Market (NFEM) rate remained around ₦1,345 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 export earnings, 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 is expected to keep exchange rates around current levels.
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