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 27, 2026, as the naira maintained its recent trading range against the United States dollar.
The latest indicative quotations show that the American currency continues to trade above the official Nigerian Foreign Exchange Market (NFEM) rate with the difference between the two markets remaining relatively narrow.
At the prevailing parallel-market rates, Bureau De Change (BDC) operators are buying dollars from individuals at approximately N1,375 per dollar, while customers purchasing the currency are paying around N1,390.
The quotations reflect information published by parallel-market trackers and may vary depending on location, transaction size and individual dealers.
How Much Is Dollar to Naira Today in the Black Market?
The indicative parallel-market exchange rates for Tuesday, October 27, 2026, are:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,375 | N1,390 |
Based on these 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 difference between the buying and selling rates stands at N15 per dollar. Actual transaction prices may differ depending on the dealer and the volume of foreign currency exchanged.
Naira Maintains Stability in Parallel Market
The naira remained relatively stable in the parallel market on Tuesday, with the indicative buying and selling rates unchanged from the N1,375 and N1,390 reported on Monday, October 26.
The steady quotations suggest that the currency has maintained its recent trading range despite continued demand for foreign exchange from businesses and individuals.
However, exchange rate stability remains dependent on dollar availability, particularly as manufacturers, importers and other businesses settle international payment obligations.
For companies that depend on imported raw materials, machinery and finished products, movements in the exchange rate directly influence operating expenses and pricing decisions.
Similarly, Nigerians paying overseas tuition fees, medical bills and travel expenses remain exposed to changes in the dollar’s selling rate.
Although the latest quotations indicate limited movement, the parallel market remains sensitive to changes in foreign exchange supply and demand.
Official Dollar to Naira Exchange Rate
At the official Nigerian Foreign Exchange Market, the naira closed at approximately N1,365 per US dollar on Monday, October 26, 2026, strengthening from N1,370 recorded on Friday, October 23.
The movement represents an appreciation of N5 against the dollar, equivalent to approximately 0.36%.
Using Monday’s official closing rate and Tuesday’s indicative parallel-market selling rate of N1,390, the difference between the two markets stands at N25 per dollar, or approximately 1.83% of the official rate.
The comparison uses Monday’s official closing figure because Tuesday’s final trading-session rate was not yet available at the time of reporting.
Separate currency quotations published by the Central Bank of Nigeria for October 26 placed the dollar’s central rate at N1,367.1057, highlighting the distinction between the official closing rate and the CBN’s published central quotation.
The Central Bank of Nigeria (CBN) oversees Nigeria’s official foreign exchange framework and publishes currency market information used by financial institutions, businesses and investors.
Factors Influencing Dollar to Naira Exchange Rate
Several economic developments continue to influence the direction of Nigeria’s currency market.
Foreign Exchange Liquidity: The availability of dollars through banks, authorised dealers and other market channels remains important to exchange rate stability. Improved liquidity can ease pressure on the naira when demand remains moderate.
Crude Oil Export Earnings: Nigeria’s crude oil production, export receipts and international oil prices influence foreign exchange inflows and the country’s external revenue position.
Import Demand: Manufacturers and importers require foreign currency to purchase machinery, raw materials and finished goods, making international trade an important source of dollar demand.
Foreign Investment: Portfolio investment and foreign direct investment contribute to foreign currency availability, while the repatriation of investment proceeds can increase demand for dollars.
Diaspora Remittances: Transfers from Nigerians living abroad provide an additional source of foreign exchange inflows.
Monetary Policy: Interest rate decisions, liquidity management and foreign exchange regulations implemented by the CBN influence investor expectations and financial market conditions.
Dollar to Naira Outlook
The naira’s performance in the coming trading sessions will depend largely on the balance between dollar demand and foreign exchange supply.
Improved export earnings, sustained capital inflows and increased liquidity in the official market could provide additional support for the Nigerian currency.
However, stronger demand from importers, manufacturers and individuals making overseas payments could put renewed pressure on the parallel market if dollar supply fails to keep pace.
Market participants will continue monitoring official exchange rate movements, Nigeria’s external reserves, crude oil prices and monetary policy developments for indications of the currency’s near-term direction.
For daily Dollar to Naira exchange rate updates, Nigerian business news, financial market developments and economic analysis, visit Investors King.
