The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Wednesday, September 30, 2026, with the US dollar trading at N1,372 for buying and N1,382 for selling across major Bureau De Change (BDC) markets.
The naira continued to hold its recent gains despite global dollar strength, supported by balanced demand and supply in the local parallel market.
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 remains a major source of foreign exchange for 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 the Black Market?
The prevailing black market exchange rate as of Wednesday, September 30, 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 Remains Stable Despite Stronger Global Dollar
The naira maintained a stable performance in the parallel market even as the US dollar strengthened against several major global currencies during September. Dealers attributed the local market’s resilience to relatively balanced foreign exchange liquidity and steady demand from businesses and individuals.
Key Factors Influencing 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.
- 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 because the two markets operate under different pricing mechanisms, liquidity conditions and access requirements.
Outlook
Analysts expect the Dollar to Naira exchange rate to remain driven by foreign exchange liquidity, oil export earnings, investor confidence, external reserves and monetary policy decisions.
Continued improvements in FX inflows could provide additional support for the naira, while sustained demand for dollars is expected to keep the parallel market active in the weeks ahead.
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