The Dollar to Naira exchange rate in Nigeria’s black market opened the new trading week at approximately N1,375 for buying and N1,390 for selling on Monday, October 19, 2026, as the naira maintained a relatively stable position against the United States dollar.
The latest indicative quotations show that the American currency continues to trade above the official Nigerian Foreign Exchange Market (NFEM) rate, reflecting differences in pricing and foreign exchange availability.
At the prevailing parallel-market rates, individuals selling dollars to Bureau De Change (BDC) operators receive approximately N1,375 per dollar, while those purchasing the US currency pay around N1,390.
However, exchange rates vary across trading locations, with some market sources reporting lower quotations depending on dealer activity and available liquidity.
How Much Is Dollar to Naira Today in the Black Market?
The indicative parallel-market exchange rates for Monday, October 19, 2026, are:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,375 | N1,390 |
Based on these quotations, the following conversions apply:
- $100: N137,500 when selling and N139,000 when buying.
- $200: N275,000 when selling and N278,000 when buying.
- $500: N687,500 when selling and N695,000 when buying.
- $1,000: N1,375,000 when selling and N1,390,000 when buying.
The difference between the buying and selling rates stands at N15 per dollar. Actual transaction prices may differ depending on the dealer, location and amount exchanged.
Naira Opens New Week Within Recent Trading Range
The naira began Monday’s trading within the range observed in recent parallel-market quotations, suggesting that the local currency has avoided significant additional depreciation despite continued demand for dollars.
The indicative rates are unchanged from those reported in the previous Naijaonpoint update on Thursday, October 15. However, this comparison does not establish that the currency remained unchanged throughout Friday and the weekend.
For import-dependent businesses, exchange rate stability remains important because fluctuations in the dollar directly affect the cost of machinery, raw materials and finished goods purchased from international suppliers.
Similarly, Nigerians paying overseas tuition fees, medical expenses and other foreign currency obligations remain exposed to changes in the dollar’s selling rate.
The direction of the parallel market will continue to depend on how available foreign exchange supply responds to demand from businesses and individuals.
Official Dollar to Naira Exchange Rate
At the official Nigerian Foreign Exchange Market, the naira recorded a volume-weighted reference rate of approximately N1,332.26 per US dollar on Friday, October 16, 2026, while the reported closing rate stood at N1,334.20.
Using Friday’s official closing rate and Monday’s indicative parallel-market selling rate of N1,390, the difference between the two markets stands at approximately N55.80 per dollar.
The comparison uses the latest separately identified official closing figure available at the time of reporting, rather than a confirmed closing rate for Monday’s session.
Nigeria’s official foreign exchange market operates under the framework overseen by the Central Bank of Nigeria (CBN).
Businesses and individuals can consult the CBN for official exchange rate information and updates on monetary policy.
Factors Influencing the Dollar to Naira Exchange Rate
Several economic developments continue to influence Nigeria’s currency market.
Foreign Exchange Liquidity: The availability of dollars through authorised dealers and other channels influences exchange rate movements. Increased supply can reduce pressure on the naira when demand remains relatively stable.
Crude Oil Export Earnings: Nigeria’s crude oil exports remain an important source of foreign exchange revenue. Changes in production, international oil prices and export receipts can affect dollar inflows.
Import Demand: Manufacturers and importers require foreign currency to purchase equipment, raw materials and finished products, making international trade an important driver of dollar demand.
Foreign Investment: Portfolio investment and foreign direct investment can improve foreign exchange availability, particularly when investors maintain confidence in Nigeria’s economic outlook.
Diaspora Remittances: Transfers from Nigerians living abroad provide an additional source of foreign currency for the economy.
Monetary Policy: Decisions by the CBN concerning interest rates, banking liquidity and foreign exchange regulations can influence investor expectations and currency market conditions.
Dollar to Naira Outlook
The naira’s performance during the new trading week will depend largely on the balance between demand for dollars and available foreign exchange supply.
Improved foreign currency inflows from crude oil exports, investment and remittances could provide additional support for the Nigerian currency.
However, increased demand from importers, manufacturers and individuals meeting overseas payment obligations could put renewed pressure on the parallel market.
Market participants will continue monitoring official exchange rate movements, Nigeria’s external reserves, crude oil prices and monetary policy developments for indications of the currency’s near-term direction.
For daily Dollar to Naira exchange rate updates, Nigerian business news, financial market developments and economic analysis, visit Naijaonpoint.