The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, moved higher on Wednesday, August 5, 2026, with the United States dollar trading at ₦1,410 on the buying side and ₦1,420 on the selling side across Bureau De Change (BDC) markets.
According to information obtained from Bureau De Change operators, dealers are buying one US dollar from Nigerians at approximately ₦1,410, while Nigerians seeking to purchase dollars are paying about ₦1,420 per dollar.
The latest exchange rate represents a weakening of the naira compared with the previous trading session. On Tuesday, August 4, the dollar traded at ₦1,400 on the buying side and ₦1,410 on the selling side, meaning the naira depreciated by ₦10 on both sides of the market.
Demand for foreign exchange continues to come from importers, manufacturers, international travelers, students paying tuition abroad, and businesses settling international obligations.
Black market exchange rates are determined largely by prevailing demand and supply and can vary slightly across locations, transaction sizes, and individual dealers.
How Much Is Dollar to Naira Today in Black Market?
For Nigerians asking, “How much is Dollar to Naira today in black market?”, the exchange rate as of Wednesday, August 5, 2026, is:
| Currency |
Buying Rate |
Selling Rate |
| US Dollar (USD) |
₦1,410 |
₦1,420 |
The ₦1,410 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the ₦1,420 selling rate represents the amount customers pay to purchase one US dollar from operators.
At the prevailing rates, someone selling $100 to a Bureau De Change operator would receive approximately ₦141,000, while purchasing $100 would cost around ₦142,000.
Similarly, $1,000 would be worth about ₦1.41 million at the buying rate, while purchasing $1,000 at the prevailing selling rate would cost approximately ₦1.42 million.
Naira Weakens Against Dollar in Parallel Market
The movement from Tuesday’s ₦1,400/₦1,410 range to Wednesday’s ₦1,410/₦1,420 indicates renewed pressure on the naira in the parallel foreign exchange market.
The ₦10 depreciation represents a reversal of the gains recorded by the Nigerian currency in recent trading sessions.
The movement also highlights the sensitivity of the parallel market to changes in dollar availability and demand. When demand rises faster than available foreign currency supply, Bureau De Change operators typically adjust their rates accordingly.
However, the relatively narrow ₦10 spread between buying and selling rates suggests that trading conditions remain competitive among currency dealers.
What Is Driving the Dollar to Naira Exchange Rate?
Foreign exchange supply and demand remain central to the performance of the naira.
Nigeria requires substantial foreign currency to finance imports of machinery, industrial inputs, consumer products and other goods. Manufacturers and other businesses also require dollars to settle international obligations.
Demand also comes from individuals paying foreign tuition, traveling internationally or meeting other dollar-denominated expenses.
On the supply side, crude oil export receipts, diaspora remittances, foreign portfolio investments, foreign direct investment and other capital inflows contribute to dollar availability.
Changes in these flows can therefore have an impact on the exchange rate in both the official and parallel markets.
Official Dollar to Naira Exchange Rate
Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN), which is responsible for monetary policy and regulation of the country’s foreign exchange system.
The official Dollar to Naira exchange rate can differ from the parallel market rate because the markets operate under different liquidity, accessibility and transaction conditions.
Businesses and individuals are therefore encouraged to monitor prevailing official and parallel market rates before conducting foreign exchange transactions.
Dollar to Naira Outlook
The direction of the Dollar to Naira exchange rate in the coming trading sessions will depend largely on foreign exchange liquidity, demand from businesses and individuals, crude oil export receipts, external reserves, diaspora remittances and foreign investment flows.
Improved dollar supply could provide support for the naira and reverse some of the pressure recorded in the parallel market. However, stronger demand without a corresponding increase in foreign exchange availability could push the exchange rate higher.
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