Black Market Dollar to Naira Exchange Rate for Today, Tuesday, July 28, 2026

The Dollar to Naira exchange rate in the Nigerian black market, commonly known as the parallel market, recorded a modest improvement for the naira on Tuesday, July 28, 2026, as the exchange rate eased slightly amid relatively balanced demand and supply across major Bureau De Change (BDC) markets.

Foreign exchange traders said the slight appreciation followed improved dollar availability in parts of the parallel market, although demand remained strong from importers, manufacturers, international travelers, students paying tuition abroad, and businesses settling overseas obligations.

Despite reforms in the official foreign exchange market, many Nigerians continue to source foreign currency through the parallel market because of its accessibility and quicker transaction process.

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)

The latest exchange rate represents a slight appreciation of the naira compared to the previous trading session, when the dollar traded at ₦1,395 on the buying side and ₦1,405 on the selling side.

Exchange rates in the parallel market are determined by prevailing demand and supply and may vary slightly depending on the location, transaction volume, and individual Bureau De Change operators.

How Much Is Dollar to Naira Today in Black Market?

For Nigerians asking, “How much is Dollar to Naira today in black market?”, below is the latest exchange rate as of Tuesday, July 28, 2026:

The ₦1,390 buying rate represents the amount Bureau De Change operators pay Nigerians selling US dollars, while the ₦1,400 selling rate is the amount customers are expected to pay to purchase one US dollar in the parallel market.

Naira Strengthens Slightly Against the Dollar

The latest Dollar to Naira exchange rate indicates a modest recovery for the naira after coming under pressure during previous trading sessions. The ₦5 improvement on both the buying and selling rates suggests that supply conditions in the parallel market improved marginally.

Market participants noted that although demand for foreign exchange remains elevated, increased dollar availability among Bureau De Change operators helped reduce upward pressure on exchange rates.

Analysts expect the market to remain sensitive to changes in foreign exchange liquidity, official policy measures, and demand from businesses and individuals.

Factors Influencing the Dollar to Naira Exchange Rate

The movement of the Dollar to Naira exchange rate continues to be influenced by several domestic and international factors, 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 portfolio investment inflows.
• Monetary policy decisions and foreign exchange reforms.
• Inflationary pressures, investor confidence, and overall macroeconomic conditions.

These factors continue to determine the direction of the naira in both the official and parallel foreign exchange markets.

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 policies designed to improve market liquidity, strengthen transparency, and enhance confidence in Nigeria’s foreign exchange market.

The official exchange rate often differs from the black market rate because both markets operate under different pricing mechanisms, liquidity conditions, and regulatory frameworks. Businesses and individuals are advised to compare prevailing rates before conducting foreign exchange transactions.

Outlook for the Naira

Market analysts believe the Dollar to Naira exchange rate will remain influenced by foreign exchange inflows, crude oil export receipts, external reserves, investor confidence, diaspora remittances, and monetary policy developments. Sustained improvements in official dollar liquidity could further support the naira, while persistent demand in the parallel market may continue to shape exchange rate movements.

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