The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Tuesday, August 25, 2026 as the United States dollar traded at N1,390 on the buying side and N1,400 on the selling side across major Bureau De Change (BDC) markets.
According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately N1,390, while Nigerians seeking to purchase dollars are paying about N1,400 per dollar.
The latest exchange rate reflects a relatively stable parallel market despite continued demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling overseas obligations.
Market participants said improved liquidity in the official foreign exchange market has continued to moderate volatility in the parallel market.
Black market exchange rates are determined by prevailing demand and supply conditions 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 prevailing exchange rate as of Tuesday, August 25, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,390 | N1,400 |
The N1,390 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the N1,400 selling rate represents the amount customers pay to purchase one US dollar from the parallel market.
At the prevailing rates:
- Selling $100 would fetch approximately N139,000.
- Buying $100 would cost approximately N140,000.
- Selling $1,000 would yield about N1.39 million.
- Purchasing $1,000 would cost approximately N1.40 million.
Naira Holds Firm in the Parallel Market
The latest Dollar to Naira exchange rate indicates that the naira remained largely stable in the parallel market despite sustained demand for the greenback.
Currency dealers attributed the stability to improved foreign exchange liquidity in the official market, stronger external reserves and continued foreign portfolio inflows, although businesses and individuals continue to rely on the parallel market for immediate access to foreign exchange.
Factors Influencing the Dollar to Naira Exchange Rate
Several factors continue to influence the movement of the Dollar to Naira exchange rate, including:
- Demand for foreign exchange from importers, manufacturers and travelers.
- 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 determine 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) closing rate stood at approximately N1,346.98 per US dollar, significantly below the parallel market rate.
The official exchange rate differs from the black market rate because the two markets operate under different pricing mechanisms, liquidity conditions and regulatory frameworks.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export earnings, investor confidence, external reserves, diaspora remittances and monetary policy developments.
Continued improvements in official dollar supply could help support the naira, while sustained demand in the parallel market is expected to keep exchange rates around current levels.
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