The Dollar to Naira exchange rate in Nigeria’s black market opened the new trading week on Monday, October 12, 2026, with the United States dollar exchanging at approximately N1,370 for buying and N1,380 for selling across the parallel foreign exchange market.
The latest quotations indicate that the naira continues to trade within a relatively narrow range against the dollar as businesses, international travellers and individuals monitor foreign exchange availability.
According to market exchange rate trackers, Bureau De Change (BDC) operators are buying one US dollar from Nigerians at approximately N1,370, while customers purchasing dollars are paying around N1,380.
However, quotations vary across dealers and locations, with some market trackers reporting higher rates of N1,375 for buying and N1,390 for selling.
The parallel market remains an important source of foreign currency for individuals and businesses meeting international payment obligations.
How Much Is Dollar to Naira Today in Black Market?
The indicative black market exchange rates for Monday, October 12, 2026, are:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,370 | N1,380 |
At these rates, Nigerians exchanging dollars can expect the following amounts:
- $100: N137,000 when selling and N138,000 when buying.
- $200: N274,000 when selling and N276,000 when buying.
- $500: N685,000 when selling and N690,000 when buying.
- $1,000: N1,370,000 when selling and N1,380,000 when buying.
The difference between the buying and selling rates stands at N10 per dollar, although individual transactions may attract different quotations depending on the dealer, location and amount involved.
Naira Opens New Week With Modest Improvement
The naira opened Monday’s trading session with a modest improvement against the dollar based on the latest available parallel-market quotations.
Compared with Friday, October 9, when the dollar was quoted at approximately N1,375 for buying and N1,390 for selling, Monday’s indicative rates suggest a N5 improvement on the buying side and a N10 appreciation on the selling side.
However, parallel-market quotations are not uniform, and exchange rate movements may differ across trading locations.
The relative stability comes as businesses and individuals continue to assess foreign exchange availability, import financing requirements and developments in Nigeria’s official currency market.
For import-dependent businesses, exchange rate stability remains particularly important because changes in the dollar’s value directly affect the cost of imported raw materials, equipment and finished products.
Official Dollar to Naira Exchange Rate
At the official Nigerian Foreign Exchange Market (NFEM), the naira closed at approximately N1,332.49 per US dollar on Friday, October 9, 2026, according to data published by the Central Bank of Nigeria (CBN).
The official market rate remains below the prevailing parallel-market selling rate.
Using Friday’s official closing rate and Monday’s indicative black-market selling rate of N1,380, the difference between the two markets stands at approximately N47.51 per dollar.
The difference reflects variations in foreign exchange pricing, liquidity and transaction conditions between the official and informal currency markets.
The CBN continues to oversee Nigeria’s official foreign exchange framework, with market participants closely monitoring developments in dollar supply, capital inflows and monetary policy.
What Is Influencing the Dollar to Naira Exchange Rate?
Several developments remain important to the direction of Nigeria’s foreign exchange market.
Dollar Availability: The volume of foreign currency available to banks, authorised dealers and market participants influences the ability of businesses and individuals to meet their foreign exchange requirements.
Crude Oil Export Earnings: Nigeria’s crude oil production and international oil prices remain important sources of foreign exchange revenue.
Foreign Investment: Capital inflows from foreign portfolio investors and direct investment can increase dollar availability and support exchange rate stability.
Import Demand: Manufacturers, importers and businesses purchasing goods and services abroad contribute to demand for foreign currency.
Diaspora Remittances: Transfers from Nigerians living overseas provide another source of foreign exchange inflows.
Monetary Policy: Decisions by the CBN regarding interest rates, liquidity management and foreign exchange regulations can influence investor confidence and currency market expectations.
Dollar to Naira Outlook
The direction of the naira in the coming trading sessions will depend on the balance between dollar demand and available foreign exchange supply.
Improved foreign currency inflows, stronger export earnings and sustained investor confidence could provide additional support for the local currency.
Conversely, stronger demand from importers, manufacturers and individuals making overseas payments could put renewed pressure on the exchange rate.
Market participants will continue monitoring the official foreign exchange market, external reserves, crude oil prices and monetary policy developments for indications of the naira’s near-term direction.
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