The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Tuesday, September 22, 2026, with the US dollar trading at N1,375 for buying and N1,390 for selling across major Bureau De Change (BDC) markets.
Dealers said demand for foreign exchange remained steady despite improved liquidity in the official market.
According to Bureau De Change operators, the N1,375 buying rate is the amount dealers pay Nigerians selling US dollars, while the N1,390 selling rate is the amount customers pay to purchase one US dollar. Exchange rates may vary slightly depending on location, transaction size and individual dealers.
The parallel market continues to serve importers, manufacturers, international travellers, students paying tuition abroad, businesses settling overseas obligations and individuals requiring immediate access to foreign currency.
How Much Is Dollar to Naira Today in Black Market?
The prevailing black market exchange rate as of Tuesday, September 22, 2026, is:
| Currency |
Buying Rate |
Selling Rate |
| US Dollar (USD) |
N1,375 |
N1,390 |
At the prevailing rates:
- Selling $100 would fetch approximately N137,500.
- Buying $100 would cost approximately N139,000.
- Selling $1,000 would yield about N1.375 million.
- Purchasing $1,000 would cost approximately N1.39 million.
Naira Remains Firm
The Dollar to Naira exchange rate was broadly unchanged from the previous trading session, suggesting balanced demand and supply in the parallel market. While demand for dollars remains supported by importers, manufacturers and travellers, analysts say Central Bank interventions and relatively subdued import demand have helped keep the naira stable in both the official and street markets.
Key Factors Driving the Exchange Rate
The movement of the Dollar to Naira exchange rate continues to be influenced by:
- Demand for foreign exchange from businesses and individuals.
- Availability of US dollars in the official and parallel markets.
- Nigeria’s crude oil export earnings and external reserves.
- Diaspora remittances and foreign investment inflows.
- Monetary policy and foreign exchange reforms.
- Inflation and broader macroeconomic conditions.
Official Dollar to Naira Exchange Rate
Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN). The Nigerian Foreign Exchange Market (NFEM) exchange rate traded around N1,329.80 per US dollar, remaining below the prevailing parallel market rate.
The gap between the official and black market rates reflects differences in pricing mechanisms, market liquidity and access to foreign exchange.
Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, oil export earnings, investor confidence, external reserves and monetary policy. Continued official dollar sales and relatively moderate import demand could help support exchange-rate stability in the near term.
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