The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Thursday, September 17, 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 narrow range as demand for foreign exchange remained steady.
According to Bureau De Change operators, the N1,375 buying rate is the amount dealers pay Nigerians selling US dollars, while the N1,390 selling rate is the amount customers pay to purchase one US dollar. Exchange 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 Black Market?
The prevailing black market exchange rate as of Thursday, September 17, 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 Holds Steady
The Dollar to Naira exchange rate was broadly unchanged from the previous trading session, suggesting balanced demand and supply in the parallel market. Dealers said foreign exchange demand from importers, manufacturers, international travellers and businesses remains resilient, while improved liquidity has helped keep the market relatively stable.
Key Factors Driving 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 and external reserves.
- 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 operates under the supervision of the Central Bank of Nigeria (CBN). The Nigerian Foreign Exchange Market (NFEM) exchange rate remained around N1,329.86 per US dollar, significantly below the prevailing black 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, oil export earnings, investor confidence, external reserves and monetary policy. While improved dollar inflows could strengthen the naira further, sustained demand in the parallel market is expected to keep trading active in the near term.
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