The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Tuesday, September 29, 2026, with the US dollar trading at N1,372 for buying and N1,382 for selling across major Bureau De Change (BDC) markets.
According to Bureau De Change operators, the N1,372 buying rate represents the amount dealers pay Nigerians selling US dollars, while the N1,382 selling rate is the amount customers pay to purchase one US dollar. Rates may vary slightly depending on location, transaction size and individual dealers.
The parallel market continues to play an important role for importers, manufacturers, international travellers, students paying tuition abroad, businesses settling overseas obligations and individuals seeking immediate access to foreign currency.
How Much Is Dollar to Naira Today in the Black Market?
The prevailing black market exchange rate as of Tuesday, September 29, 2026, is:
| Currency |
Buying Rate |
Selling Rate |
| US Dollar (USD) |
N1,372 |
N1,382 |
At the prevailing rates:
- Selling $100 would fetch approximately N137,200.
- Buying $100 would cost approximately N138,200.
- Selling $1,000 would yield about N1.372 million.
- Purchasing $1,000 would cost approximately N1.382 million.
Naira Continues to Trade Firmly
The naira posted another stable session in the parallel market, with the dollar’s selling rate holding below N1,390. Dealers attributed the relative stability to balanced demand and improved foreign exchange liquidity, although demand from importers, manufacturers and travellers remains resilient.
Market participants continue to monitor movements in the official foreign exchange market, crude oil prices, external reserves and foreign capital inflows, all of which could influence the direction of the naira in the coming weeks.
Key Factors Influencing the Exchange Rate
The movement of the Dollar to Naira exchange rate continues to be driven 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.
- 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 is regulated by the Central Bank of Nigeria (CBN). The official Nigerian Foreign Exchange Market (NFEM) rate continues to trade below the parallel market rate due to differences in liquidity, pricing mechanisms and market access.
Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange inflows, external reserves, oil earnings, investor confidence and monetary policy decisions. Continued improvements in dollar liquidity could provide further support for the naira, while sustained demand for foreign exchange is expected to keep the parallel market active.
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