Black Market Dollar to Naira Exchange Rate for Today, Thursday, July 23, 2026

The Dollar to Naira exchange rate in the Nigerian black market, commonly referred to as the parallel market, continued its upward trend on Thursday, July 23, 2026, as demand for the United States dollar remained robust across Bureau De Change (BDC) markets nationwide.

Foreign exchange dealers attributed the latest movement to sustained demand from importers, manufacturers, international travelers, parents paying tuition fees abroad, and businesses meeting foreign payment obligations.

Despite ongoing efforts to improve liquidity in Nigeria’s official foreign exchange market, the parallel market remains a key source of foreign currency for many individuals and businesses.

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

• Buying Rate: ₦1,405 per US Dollar (the rate at which Bureau De Change operators buy dollars from Nigerians)
• Selling Rate: ₦1,415 per US Dollar (the rate at which Bureau De Change operators sell dollars to Nigerians)

The latest rates reflect another depreciation of the naira in the parallel market, highlighting the continued pressure from foreign exchange demand.

It is important to note that black market exchange rates are not regulated and may vary slightly depending on the location, transaction volume, and individual Bureau De Change operator.

How Much Is Dollar to Naira Today in Black Market?

For those searching “How much is Dollar to Naira today in black market?”, below is the latest exchange rate as of Thursday, July 23, 2026:

The ₦1,405 buying rate is the amount Bureau De Change operators pay Nigerians selling US dollars, while the ₦1,415 selling rate represents the amount customers are expected to pay to purchase one US dollar in the parallel market.

Dollar to Naira Extends Weekly Gains

The latest Dollar to Naira exchange rate marks another increase from the previous trading session, when the dollar traded at ₦1,400 on the buying side and ₦1,410 on the selling side.

The continued rise suggests that demand for foreign exchange remains stronger than available supply in the parallel market. Market participants noted that the steady increase reflects persistent demand from businesses and individuals requiring immediate access to US dollars for international transactions.

Although the movement is relatively moderate, traders expect the market to remain sensitive to changes in dollar availability and investor sentiment.

Factors Influencing the Dollar to Naira Exchange Rate

Several factors continue to influence the movement of the Dollar to Naira exchange rate in Nigeria’s parallel market, including:

• Demand for foreign exchange from importers, manufacturers, and international travelers.
• Availability of US dollars through the official foreign exchange market.
• Nigeria’s crude oil export earnings and external reserve position.
• Diaspora remittances and foreign capital inflows.
• Monetary policy decisions and ongoing foreign exchange reforms.
• Inflationary pressures and broader macroeconomic conditions.

These factors collectively determine the level of pressure on the naira and contribute to daily fluctuations in exchange rates.

Official Dollar to Naira Exchange Rate

Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN). The apex bank continues to implement reforms aimed at improving foreign exchange liquidity, strengthening transparency, and enhancing confidence in the foreign exchange market.

The official exchange rate often differs from the black market rate because the two markets operate under different pricing mechanisms and liquidity conditions. Individuals and businesses are advised to compare official and parallel market rates before carrying out foreign exchange transactions.

Outlook for the Naira

Market analysts believe the Dollar to Naira exchange rate will remain largely influenced by foreign exchange inflows, crude oil export earnings, investor confidence, diaspora remittances, and monetary policy developments. Any significant improvement in official dollar supply could ease pressure on the naira, while continued strong demand may keep the parallel market exchange rate elevated.

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