The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, declined slightly on Wednesday, September 9, 2026, as the United States dollar traded at N1,385 on the buying side and N1,390 on the selling side across major Bureau De Change (BDC) markets.
The latest market data indicates a modest appreciation of the naira compared with the previous trading session.
According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately N1,385, while Nigerians seeking to purchase dollars are paying about N1,390 per dollar. Exchange rates in the parallel market may vary slightly depending on location, transaction size and individual dealers.
The black market remains an important source of foreign exchange for businesses and individuals seeking dollars for imports, overseas tuition payments, international travel, medical expenses and other foreign currency obligations.
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 Wednesday, September 9, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,385 | N1,390 |
The N1,385 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the N1,390 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 N138,500.
- Buying $100 would cost approximately N139,000.
- Selling $1,000 would yield about N1.385 million.
- Purchasing $1,000 would cost approximately N1.39 million.
Naira Appreciates Slightly Against the Dollar
The latest Dollar to Naira exchange rate suggests the naira strengthened marginally in the parallel market as the dollar’s selling rate eased to N1,390, compared with N1,410 recorded in previous sessions. Market participants attributed the movement to improved dollar availability in some Bureau De Change locations, although demand for foreign currency remains firm.
Importers, manufacturers, international travellers, businesses making overseas payments and Nigerians funding education and medical expenses abroad continue to account for a significant share of demand for the US dollar.
Factors Influencing the Dollar to Naira Exchange Rate
Several factors continue to determine the movement of the Dollar to Naira exchange rate, including:
- Demand for foreign exchange from importers, manufacturers and travellers.
- 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 shape 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). Recent official market data places the Nigerian Foreign Exchange Market (NFEM) exchange rate at about N1,320.25 per US dollar, significantly below the prevailing parallel market rate. The gap reflects differences in market structure, liquidity and pricing mechanisms.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export earnings, external reserves, investor confidence, diaspora remittances and monetary policy developments. Continued improvements in official dollar supply could provide further support for the naira, while strong demand in the parallel market is expected to keep exchange rate movements under close watch.
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