The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Thursday, August 13, 2026, as demand for the United States dollar continued to outweigh supply across major Bureau De Change (BDC) markets.
According to information obtained from Bureau De Change (BDC) operators, the Dollar to Naira exchange rate today is:
- Buying Rate: ₦1,415 per US Dollar (the rate at which Bureau De Change operators buy dollars from Nigerians)
- Selling Rate: ₦1,425 per US Dollar (the rate at which Bureau De Change operators sell dollars to Nigerians)
The latest exchange rate suggests that the naira continues to trade within a narrow range in the parallel market despite persistent demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling international obligations.
Market observers say the relatively stable movement reflects balanced trading activity, although the parallel market continues to trade at a premium to the official exchange rate.
Black market exchange rates are determined by prevailing demand and supply conditions and may vary slightly depending on location, transaction size and individual Bureau De Change operators.
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 prevailing exchange rate as of Thursday, August 13, 2026:
| Currency |
Buying Rate |
Selling Rate |
| US Dollar (USD) |
₦1,415 |
₦1,425 |
The ₦1,415 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the ₦1,425 selling rate represents the amount customers pay to purchase one US dollar from the parallel market.
At the prevailing rates:
- Selling $100 would fetch approximately ₦141,500.
- Buying $100 would cost approximately ₦142,500.
- Selling $1,000 would yield about ₦1.415 million, while purchasing $1,000 would cost about ₦1.425 million.
Dollar to Naira Remains Stable in the Parallel Market
The latest Dollar to Naira exchange rate indicates that the parallel market has remained relatively stable in recent trading sessions despite continued pressure from foreign exchange demand.
Currency dealers said demand for dollars remains driven by businesses importing goods, manufacturers sourcing raw materials, Nigerians paying school fees abroad, international travelers and individuals meeting other foreign currency obligations. While liquidity in the official market has improved, many businesses and individuals continue to rely on the parallel market for quicker access to foreign exchange.
Factors Influencing the Dollar to Naira Exchange Rate
Several factors continue to influence the movement of the Dollar to Naira exchange rate, including:
- Demand for foreign exchange from importers, manufacturers and travelers.
- Availability of US dollars through official foreign exchange channels.
- Nigeria’s crude oil export earnings and external reserve position.
- Diaspora remittances and foreign investment inflows.
- Monetary policy decisions and foreign exchange reforms.
- Inflation expectations and broader macroeconomic conditions.
These factors continue to determine the value 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 official Nigerian Foreign Exchange Market (NFEM) rate remained around ₦1,366.73 per US dollar, significantly below the parallel market rate.
The official exchange rate differs from the black market rate because the two markets operate under different pricing mechanisms, liquidity conditions and regulatory frameworks.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil receipts, external reserves, investor confidence, diaspora remittances and monetary policy developments.
Sustained improvements in official dollar supply could support the naira and reduce the gap between the official and parallel market exchange rates, while continued strong demand may keep the parallel market rate elevated.
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