The Dollar to Naira exchange rate in the Nigerian black market, also known as the parallel market, recorded a slight improvement for the naira on Friday, July 24, 2026, as the exchange rate eased following recent gains by the US dollar.
Foreign exchange traders said the modest appreciation in the naira came amid relatively balanced demand and supply conditions in major Bureau De Change (BDC) markets across the country. Nevertheless, demand for the greenback remained supported by importers, international travelers, students paying tuition abroad, and businesses settling foreign obligations.
According to information obtained from Bureau De Change (BDC) operators, the Dollar to Naira exchange rate today is:
- Buying Rate: ₦1,400 per US Dollar (the rate at which Bureau De Change operators buy dollars from Nigerians)
- Selling Rate: ₦1,410 per US Dollar (the rate at which Bureau De Change operators sell dollars to Nigerians)
The latest exchange rate reflects a slight improvement from the previous trading session when the dollar traded at ₦1,405 on the buying side and ₦1,415 on the selling side.
Exchange rates in the parallel market are determined by prevailing market demand and supply 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 latest exchange rate as of Friday, July 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 US dollars, while the ₦1,410 selling rate is the amount customers pay to purchase one US dollar from the parallel market.
Naira Records Modest Recovery Against the Dollar
The latest Dollar to Naira exchange rate suggests the naira regained some ground after coming under pressure earlier in the week. Although the improvement was marginal, it reflects a temporary easing in demand pressures within the parallel market.
Market participants noted that the exchange rate continues to respond to fluctuations in foreign currency availability, with traders adjusting prices based on prevailing liquidity and customer demand.
Despite the slight appreciation, the naira remains under pressure as businesses and individuals continue to seek dollars for imports, travel, education, medical expenses, and other international transactions.
Factors Influencing the Dollar to Naira Exchange Rate
Several domestic and global factors continue to determine the movement of the Dollar to Naira exchange rate, including:
- Demand for foreign exchange from importers, manufacturers, and international travelers.
- Availability of US dollars in the official foreign exchange market.
- Nigeria’s crude oil export earnings and external reserve position.
- Diaspora remittances and foreign investment inflows.
- Monetary policy decisions and foreign exchange reforms.
- Inflationary pressures, investor confidence, and broader macroeconomic conditions.
These factors continue to shape the direction 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 regulation of the Central Bank of Nigeria (CBN). The apex bank continues to implement reforms aimed at improving market liquidity, increasing transparency, and strengthening confidence in Nigeria’s foreign exchange market.
The official exchange rate often differs from the black market rate because both markets operate under different pricing mechanisms and liquidity conditions. Businesses and individuals are encouraged to compare official and parallel market rates before conducting foreign exchange transactions.
Outlook for the Naira
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange supply, crude oil export receipts, external reserves, investor confidence, diaspora remittances, and monetary policy developments. Any sustained improvement in official dollar inflows could further support the naira and reduce the gap between the official and parallel market exchange rates.
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