The Nigerian Naira opened the new trading week on a firmer note against the United States Dollar in the informal foreign exchange market, as improved liquidity and moderated demand helped ease pricing pressure.
As of Monday, February 9th 2026, the Dollar to Naira exchange rate in the black market stands at ₦1,450 per dollar for buying and ₦1,460 per dollar for selling, according to verified quotations from Bureau De Change (BDC) operators in Lagos, Abuja, Port Harcourt, Kano, and other major trading centres.
The latest movement reflects continued improvement in dollar supply, following steady participation from exporters and private holders. Compared to late-January levels when the Dollar to Naira rate traded near ₦1,490, the current pricing signals short-term strengthening of the Naira in the parallel market.
Dollar to Naira Black Market Rate Overview
| Date |
Market Type |
Buying Rate (₦) |
Selling Rate (₦) |
Movement |
| Mon, Feb 9, 2026 |
Black Market |
1,450 |
1,460 |
−₦5 ▼ |
| Fri, Feb 6, 2026 |
Black Market |
1,455 |
1,465 |
— |
| Official Rate (CBN) |
— |
— |
— |
See https://www.cbn.gov.ng |
Rates compiled from daily market surveys and validated using updates published by https://investorsking.com.
How Much Is Dollar to Naira Today in Black Market
The Dollar to Naira exchange rate today in the black market is trading within the ₦1,450 – ₦1,460 range across key commercial cities. Dealers report that transactions are settling closer to the buying rate, reflecting improved dollar availability at the start of the week.
BDC operators say importer demand remains steady but less aggressive than during January’s heavy settlement cycle. In addition, exporters converting foreign earnings into naira have supplied fresh liquidity into the market, supporting the strengthening of the Dollar to Naira exchange rate.
For official exchange-rate benchmarks, interbank rates, and regulatory updates, the Central Bank of Nigeria remains the authoritative reference:
https://www.cbn.gov.ng
Key Drivers Behind the Dollar to Naira Movement
Several factors are shaping today’s movement in the Dollar to Naira black market exchange rate:
🔹 Increased Export Inflows
Non-oil exporters and private holders are contributing additional dollars to the market.
🔹 Reduced Speculative Activity
Lower expectations of immediate depreciation have limited hoarding behavior.
🔹 Stabilized Import Financing
February procurement cycles are more measured compared to January’s peak demand period.
🔹 Supportive Oil Prices
Stable crude oil prices continue to bolster Nigeria’s FX earnings outlook.
🔹 Improved Market Confidence
Recent sessions of appreciation have strengthened short-term sentiment around the Naira.
These combined dynamics explain the modest improvement in the Dollar to Naira rate today.
Economic Implications
The improved Dollar to Naira exchange rate carries meaningful implications:
Positive Developments
-
Reduced pressure on import costs
-
Improved business planning certainty
-
Contained FX market volatility
-
Potential moderation of inflation risks
Ongoing Structural Concerns
-
FX levels remain elevated compared to historical averages
-
Liquidity improvements must be sustained
-
External shocks could reverse gains
Economists caution that while short-term stabilization is encouraging, deeper structural improvements are needed to ensure long-term resilience in the Dollar to Naira exchange rate.
Market Outlook
Experts expect the Dollar to Naira exchange rate to remain within a relatively narrow range if liquidity conditions persist.
Projected short-term trading range: ₦1,440 – ₦1,470 per dollar
Market participants will monitor:
Conclusion
The Dollar to Naira black market exchange rate today, Monday, February 9th 2026, stands at:
-
₦1,450 per dollar for buying
-
₦1,460 per dollar for selling
For reliable daily foreign exchange updates and trusted market insights, Nigerians continue to rely on:
https://investorsking.com
https://www.cbn.gov.ng
As February 2026 advances, the balance between improved supply conditions and steady demand will determine the direction of the Dollar to Naira exchange rate in the black market.
