The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Wednesday, August 19, 2026, as demand for the United States dollar continued to match available 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: ₦1,407 per US Dollar (the rate at which Bureau De Change operators buy dollars from Nigerians)
- Selling Rate: ₦1,420 per US Dollar (the rate at which Bureau De Change operators sell dollars to Nigerians)
The latest rates suggest the naira maintained a relatively steady performance in the parallel market despite continued demand for foreign exchange from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling international obligations. Exchange rates may vary slightly depending on location, transaction size and individual dealers.
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 Wednesday, August 19, 2026:
| Currency |
Buying Rate |
Selling Rate |
| US Dollar (USD) |
₦1,407 |
₦1,420 |
The ₦1,407 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 the parallel market.
At the prevailing rates:
- Selling $100 would fetch approximately ₦140,700.
- Buying $100 would cost approximately ₦142,000.
- Selling $1,000 would yield about ₦1.407 million, while purchasing $1,000 would cost approximately ₦1.42 million.
Dollar to Naira Holds Steady in the Parallel Market
The latest Dollar to Naira exchange rate indicates that the parallel market remains broadly stable despite persistent demand for foreign currency.
Market participants said demand for dollars continues to come from importers, manufacturers, international travelers, Nigerians paying school fees abroad and businesses meeting overseas obligations. While liquidity in the official foreign exchange market has improved in recent months, many businesses and individuals continue to rely on the parallel market for immediate 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 the ₦1,350 per US dollar level, 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, investor confidence, external reserves, diaspora remittances and monetary policy developments. While improved official dollar supply could support the naira, sustained demand in the parallel market is expected to keep exchange rates within the current trading range.
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