The Dollar to Naira exchange rate in Nigeria’s black market stood at approximately N1,375 for buying and N1,390 for selling on Tuesday, October 13, 2026, as the United States dollar continued to trade above the official foreign exchange market rate.
The latest quotations indicate that the naira remains under moderate pressure in the parallel market, where demand for foreign currency continues to come from importers, manufacturers, international travellers and individuals meeting overseas financial obligations.
According to exchange rate information published by market trackers, Bureau De Change (BDC) operators are buying one US dollar from Nigerians at approximately N1,375, while customers purchasing dollars are paying around N1,390.
The difference between the buying and selling rates stands at N15 per dollar, although actual quotations may vary depending on location, transaction size and individual dealers.
How Much Is Dollar to Naira Today in Black Market?
The indicative black market exchange rates for Tuesday, October 13, 2026, are:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,375 | N1,390 |
At these exchange rates, the following conversions apply:
- $100: N137,500 when selling and N139,000 when buying.
- $200: N275,000 when selling and N278,000 when buying.
- $500: N687,500 when selling and N695,000 when buying.
- $1,000: N1,375,000 when selling and N1,390,000 when buying.
The buying rate represents the amount Nigerians receive when exchanging dollars for naira, while the selling rate reflects the amount required to purchase dollars from operators.
These figures are indicative and may differ from actual transaction prices.
Naira Faces Renewed Pressure in Parallel Market
The latest quotations suggest some upward pressure on the dollar compared with the N1,370 buying and N1,380 selling rates reported on Monday, October 12, 2026.
Based on those figures, the buying rate increased by N5, while the selling rate rose by N10.
However, the comparison reflects quotations from different market sources and should not be interpreted as a uniform movement across all Bureau De Change locations.
Demand for foreign exchange remains an important factor influencing parallel-market transactions, particularly among businesses purchasing imported goods and individuals making international payments.
For manufacturers and import-dependent businesses, even modest exchange rate movements can affect production costs, inventory valuation and pricing decisions.
Similarly, Nigerians paying tuition fees, medical bills and other overseas expenses remain sensitive to changes in the dollar’s selling rate.
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 data available for verification showed that the Nigerian Foreign Exchange Market (NFEM) recorded a weighted average exchange rate of approximately N1,331.19 per US dollar on Friday, October 9, 2026, with the currency closing at N1,332.49.
Using the October 9 official closing rate and Tuesday’s indicative parallel-market selling rate of N1,390, the difference stands at approximately N57.51 per dollar.
This comparison uses the last verified official closing figure rather than a confirmed October 13 official rate.
The gap between official and parallel-market exchange rates remains an important indicator of foreign exchange liquidity, market accessibility and demand conditions.
Businesses and investors can obtain updated official exchange rate information through the CBN exchange rate portal.
Factors Influencing Dollar to Naira Exchange Rate
Several developments continue to determine the direction of Nigeria’s currency market.
Foreign Exchange Supply: The availability of dollars through authorised dealers, banks and other market channels influences exchange rate stability.
Crude Oil Export Earnings: Nigeria’s crude oil production and export receipts remain important sources of foreign currency. Changes in international oil prices and production volumes can affect dollar inflows.
Import Demand: Manufacturers and businesses importing machinery, raw materials and finished goods require foreign exchange to settle international transactions.
Foreign Investment: Portfolio investment and foreign direct investment contribute to foreign currency availability and can influence investor confidence in the naira.
Diaspora Remittances: Transfers from Nigerians living abroad provide additional foreign exchange inflows.
Monetary Policy: Decisions by the CBN regarding interest rates, liquidity management and foreign exchange regulations influence financial market expectations.
The interaction of these factors determines whether the naira appreciates, depreciates or maintains stability against the United States dollar.
Dollar to Naira Outlook
The naira’s performance in the coming trading sessions will depend largely on the balance between foreign exchange demand and available dollar supply.
Improved inflows from crude oil exports, foreign investment and diaspora remittances could provide additional support for the Nigerian currency.
However, sustained demand from importers, manufacturers, international travellers and businesses settling foreign obligations could maintain pressure on the parallel market.
Market participants will continue monitoring official foreign exchange transactions, external reserves, crude oil earnings and monetary policy developments for indications of the naira’s near-term direction.
For daily Dollar to Naira exchange rate updates, Nigerian business news, financial market developments and economic analysis, visit Investors King.
