The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, strengthened slightly on Tuesday, September 15, 2026 with the US dollar trading at N1,375 for buying and N1,390 for selling across major Bureau De Change (BDC) markets.
According to market participants, the modest improvement reflects better dollar availability in parts of the parallel market, although demand for foreign exchange remains firm. Rates may vary slightly depending on location, transaction size and individual dealers.
The parallel market continues to provide immediate access to foreign currency for importers, manufacturers, international travellers, students paying tuition abroad, businesses settling overseas obligations and individuals meeting other dollar-denominated expenses.
How Much Is Dollar to Naira Today in Black Market?
The prevailing black market exchange rate as of Tuesday, September 15, 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 Extends Recent Gains
Compared with the previous trading session, the naira appreciated modestly as the buying rate improved from N1,385 to N1,375, while the selling rate eased from N1,410 to N1,390.
Currency dealers attributed the movement to improved foreign exchange liquidity among Bureau De Change operators, even as demand remained supported by importers, manufacturers, businesses making international payments and Nigerians travelling or studying abroad.
What Is 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 both 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 official Nigerian Foreign Exchange Market (NFEM) rate remains significantly below the parallel market rate because both markets operate under different pricing mechanisms, liquidity conditions and access requirements.
Outlook
The Dollar to Naira exchange rate is expected to remain sensitive to changes in foreign exchange liquidity, crude oil export earnings, external reserves, investor confidence and monetary policy. Sustained improvements in official dollar supply could provide additional support for the naira, while persistent demand in the parallel market is likely to keep trading active.
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