The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Friday, October 2, 2026, with the US dollar trading at N1,375 for buying and N1,390 for selling across major Bureau De Change (BDC) markets.
The naira continued to trade within a relatively narrow range as foreign exchange demand remained steady despite ongoing pressure in the currency market.
According to Bureau De Change operators, the N1,375 buying rate represents the amount dealers pay Nigerians selling US dollars, while the N1,390 selling rate is the amount customers pay to purchase one US dollar. Rates may vary slightly depending on location, transaction size and individual dealers.
The parallel market remains an important source of foreign exchange for importers, manufacturers, international travellers, students paying tuition abroad, businesses settling overseas obligations and individuals requiring immediate access to US dollars.
How Much Is Dollar to Naira Today in the Black Market?
The prevailing black market exchange rate as of Friday, October 2, 2026, is:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,375 | N1,390 |
At the prevailing rates:
- Selling $100 would fetch approximately N137,500.
- Buying $100 would cost approximately N139,000.
- Selling $1,000 would yield about N1.375 million.
- Purchasing $1,000 would cost approximately N1.39 million.
Naira Maintains Stable Performance
The parallel market opened Friday with little change from recent trading sessions, indicating balanced demand and supply conditions. While businesses and individuals continue to seek foreign exchange for imports, travel and international payments, improved liquidity has helped keep the market relatively stable.
Key Factors Influencing the Exchange Rate
The movement of the Dollar to Naira exchange rate continues to be influenced by:
- Demand for foreign exchange from businesses and individuals.
- Availability of US dollars in the official and parallel markets.
- Nigeria’s crude oil export earnings.
- Diaspora remittances and foreign investment inflows.
- Monetary policy and foreign exchange reforms.
- Inflation and broader macroeconomic conditions.
Official Dollar to Naira Exchange Rate
Nigeria’s official foreign exchange market is regulated by the Central Bank of Nigeria (CBN). The Nigerian Foreign Exchange Market (NFEM) traded at approximately N1,328.17 per US dollar, leaving the official market below the prevailing parallel market rate.
Outlook
Analysts expect the Dollar to Naira exchange rate to remain driven by foreign exchange liquidity, crude oil export earnings, external reserves and monetary policy. Continued improvements in official dollar supply could support the naira, while persistent demand for foreign currency is expected to keep the parallel market active.
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