The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Monday, September 14, 2026, as the United States dollar traded at N1,385 on the buying side and N1,410 on the selling side across major Bureau De Change (BDC) markets.
The naira opened the new trading week with little movement in the parallel market despite continued demand for foreign exchange.
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 N1,410 per dollar. Exchange rates may vary slightly depending on location, transaction size and individual dealers.
The parallel market remains a key 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 Black Market?
For those asking, “How much is Dollar to Naira today in black market?”, below is the prevailing exchange rate as of Monday, September 14, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,385 | N1,410 |
At the prevailing rates:
- Selling $100 would fetch approximately N138,500.
- Buying $100 would cost approximately N141,000.
- Selling $1,000 would yield about N1.385 million.
- Purchasing $1,000 would cost approximately N1.41 million.
Naira Opens the Week on a Stable Note
The Dollar to Naira exchange rate was broadly unchanged at the start of the week, with the buying rate holding at N1,385 while the selling rate remained at N1,410. The steady pricing suggests that demand and supply conditions in the parallel market remained largely balanced despite sustained appetite for the US dollar.
Demand for foreign exchange continues to come from importers, manufacturers, businesses making overseas payments, international travellers and Nigerians funding education and medical expenses abroad.
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). The latest Nigerian Foreign Exchange Market (NFEM) rate stood at approximately N1,326.84 per US dollar, significantly below the prevailing parallel market rate.
The difference between the official and parallel market rates reflects differences in pricing mechanisms, liquidity conditions and access to foreign exchange.
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. Improved dollar inflows could strengthen the naira, while persistent demand in the parallel market is expected to keep exchange rates within their current trading range.
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