Dollar to Naira Black Market Exchange Rate Today, Thursday, July 9, 2026

The Dollar to Naira exchange rate in the Nigerian black market, also known as the parallel market, recorded a slight increase on Thursday as demand for the United States dollar remained firm across major Bureau De Change (BDC) markets nationwide.

Foreign exchange dealers attributed the movement in the exchange rate to sustained demand from importers, travelers, students paying overseas tuition, and businesses requiring foreign currency for international transactions.

While liquidity in the official foreign exchange market has improved in recent months, the parallel market continues to serve as a major source of foreign exchange for many Nigerians.

According to information obtained from Bureau De Change (BDC) operators, the Dollar to Naira exchange rate today is:

• Buying Rate: ₦1,390 per US Dollar (the rate at which Bureau De Change operators buy dollars from Nigerians)
• Selling Rate: ₦1,400 per US Dollar (the rate at which Bureau De Change operators sell dollars to Nigerians)

Exchange rates in the black market are determined by market forces and may vary slightly depending on location, transaction size, and individual dealers.

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 latest parallel market exchange rate as of Thursday, July 9, 2026:

The buying rate represents the amount Bureau De Change operators pay Nigerians for each US dollar, while the selling rate is the amount customers pay to purchase one US dollar from the parallel market.

Factors Influencing the Dollar to Naira Exchange Rate

The movement of the Dollar to Naira exchange rate continues to be driven by several domestic and international factors, including:

• Demand for foreign exchange from importers, manufacturers, and travelers.
• Availability of US dollars in the official foreign exchange market.
• Nigeria’s crude oil export earnings and external reserves.
• Diaspora remittances and foreign portfolio investment inflows.
• Monetary policy decisions and interventions in the foreign exchange market.
• Inflationary pressures and broader macroeconomic conditions.

These factors can cause exchange rates in the parallel market to fluctuate throughout the trading day.

Official Dollar to Naira Exchange Rate

Nigeria’s official foreign exchange market is regulated by the Central Bank of Nigeria (CBN), which continues to implement reforms aimed at improving foreign exchange liquidity, enhancing transparency, and promoting exchange rate stability.

The official exchange rate often differs from the black market rate because both markets operate under different pricing mechanisms and supply conditions. Individuals and businesses are advised to compare rates from both markets before conducting foreign exchange transactions.

Outlook for the Naira

Market analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export revenues, investor confidence, diaspora remittances, and monetary policy decisions in the coming weeks. Any improvement in official dollar supply could help reduce pressure on the naira and narrow the gap between the official and parallel market exchange rates.

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