The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, traded at N1,400 on the buying side and N1,410 on the selling side on Wednesday, August 26, 2026, as the foreign exchange market remained relatively stable despite sustained demand for the United States dollar.
According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately N1,400, while Nigerians seeking to purchase dollars are paying about N1,410 per dollar.
The latest exchange rate indicates that the naira maintained a relatively stable performance in the parallel market as demand from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling foreign obligations remained steady.
Exchange rates in the black market 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 Wednesday, August 26, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,400 | N1,410 |
The N1,400 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the N1,410 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 N140,000.
- Buying $100 would cost approximately N141,000.
- Selling $1,000 would yield about N1.40 million.
- Purchasing $1,000 would cost approximately N1.41 million.
Naira Remains Stable in the Parallel Market
The latest Dollar to Naira exchange rate suggests the naira continued to trade within a narrow range despite ongoing demand for foreign exchange.
Currency dealers said businesses importing goods, manufacturers sourcing raw materials, international travelers and Nigerians making overseas payments continued to support demand for the US dollar.
However, improved liquidity in the official market has helped limit excessive volatility in the parallel market.
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) rate was around 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. While improved official dollar supply could continue to support the naira, sustained demand in the parallel market is expected to keep exchange rates around current levels.
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