Black Market Dollar to Naira Exchange Rate for Today, Monday, August 3, 2026

The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, traded at around ₦1,410 on the buying side and ₦1,425 on the selling side on Monday, August 3, 2026, as demand for the United States dollar remained firm across major foreign exchange trading locations.

According to prevailing parallel market quotations, Bureau De Change (BDC) operators are buying the US dollar from Nigerians at approximately ₦1,410 per dollar, while individuals looking to purchase dollars are paying around ₦1,425 per dollar.

This means Nigerians exchanging $100 could receive approximately ₦141,000 at the prevailing buying rate, while purchasing $100 at the selling rate would cost about ₦142,500.

Black market exchange rates are determined largely by demand and supply and can differ across locations and individual dealers. Transaction size and immediate availability of foreign currency can also influence the rate offered to customers.

How Much Is Dollar to Naira Today in Black Market?

For those asking, “How much is Dollar to Naira today in black market?”, the prevailing parallel market rates on Monday, August 3, 2026, are:

The ₦1,410 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the ₦1,425 selling rate represents the amount Nigerians pay to purchase one US dollar from operators.

What Is Driving the Dollar to Naira Exchange Rate?

Demand and supply remain the primary forces determining the direction of the naira in the parallel foreign exchange market.

Demand for dollars typically comes from importers, manufacturers, international travelers, students paying tuition abroad, businesses settling overseas obligations, and individuals making other international payments.

On the supply side, diaspora remittances, foreign currency inflows, exports and the availability of dollars through official channels can influence liquidity in the wider foreign exchange market.

Nigeria’s crude oil earnings, foreign portfolio investment, external reserves and monetary policy developments can also influence sentiment toward the naira.

Official Dollar to Naira Exchange Rate

Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN), which oversees the country’s monetary and foreign exchange policies.

The official exchange rate can differ from the black market rate because of differences in liquidity, accessibility and the mechanisms through which transactions are conducted.

Consequently, individuals and businesses are encouraged to monitor prevailing rates before carrying out foreign exchange transactions.

Dollar to Naira Outlook

The direction of the Dollar to Naira exchange rate in the coming days will largely depend on foreign exchange liquidity, demand from businesses and individuals, crude oil receipts, foreign investment inflows and monetary policy developments.

An increase in dollar supply could provide additional support for the naira and reduce pressure in the parallel market. Conversely, stronger demand without a corresponding improvement in supply could put renewed pressure on the local currency.

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