The Dollar to Naira exchange rate in the Nigerian black market remained relatively stable on Friday, May 29th, 2026, as demand for the United States Dollar continued to influence activities across the parallel foreign exchange market.
Currency traders and businesses continue to monitor movements in the foreign exchange market amid ongoing efforts by the Central Bank of Nigeria (CBN) to improve liquidity and stabilize the value of the naira.
According to information obtained from parallel market operators, the Dollar to Naira exchange rate today stood at:
- Buying Rate: ₦1,390 per Dollar
- Selling Rate: ₦1,400 per Dollar
The slight spread between the buying and selling rates reflects prevailing market conditions and transaction costs among foreign exchange dealers.
How Much Is Dollar to Naira Today in Black Market?
For Nigerians seeking the latest Dollar to Naira exchange rate in the black market, currency dealers are buying one United States Dollar at ₦1,390 and selling at ₦1,400 on Friday, May 29th, 2026.
The black market, also known as the parallel market, remains a major source of foreign exchange for individuals and businesses that are unable to access foreign currency through official banking channels.
Exchange rates in the parallel market often vary depending on location, transaction volume and demand-supply dynamics. Market participants are therefore advised to confirm rates with local dealers before carrying out transactions.
The Dollar to Naira exchange rate continues to attract significant attention from importers, travelers, students paying tuition fees abroad and businesses involved in international transactions.
CBN Official Exchange Rate
While the black market remains active, the official exchange rate published by the Central Bank of Nigeria (CBN) continues to trade at a different level from the parallel market. The official market rate remains influenced by monetary policy measures, foreign exchange interventions and broader economic conditions.
The CBN has repeatedly advised individuals and businesses requiring foreign exchange to use authorized financial institutions and approved foreign exchange windows for their transactions.
Why Dollar to Naira Exchange Rate Matters
The Dollar to Naira exchange rate plays a critical role in Nigeria’s economy because the country relies heavily on imports for various goods and services. Changes in exchange rates can impact inflation, the cost of imported products, transportation expenses and overall business operations.
A stronger dollar often increases the cost of importing goods into Nigeria, while a stronger naira may help reduce import-related expenses.
Market analysts continue to monitor developments in Nigeria’s foreign exchange market, particularly as government policies and global economic conditions influence demand and supply for foreign currency.
For daily updates on the Dollar to Naira exchange rate, financial market news, investment insights and economic analysis, visit Investors King. You can also monitor parallel market movements through Aboki Forex and check official rates on the Central Bank of Nigeria (CBN).
Dollar to Naira Exchange Rate Summary for Friday, May 29th, 2026
| Market |
Buying Rate |
Selling Rate |
| Black Market |
₦1,390 |
₦1,400 |
The Dollar to Naira exchange rate remains one of the most searched financial indicators in Nigeria as individuals and businesses continue to monitor foreign exchange trends and market developments.
