The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Thursday, September 3, 2026 as the United States dollar traded at N1,400 on the buying side and N1,410 on the selling side across major Bureau De Change (BDC) markets.
Market participants said demand for foreign exchange remained steady despite improved liquidity in the official market.
According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately N1,400, while Nigerians seeking to purchase dollars are paying about N1,410 per dollar. Exchange rates in the parallel market 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 Thursday, September 3, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,400 | N1,410 |
The N1,400 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the N1,410 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 N140,000.
- Buying $100 would cost approximately N141,000.
- Selling $1,000 would yield about N1.40 million.
- Purchasing $1,000 would cost approximately N1.41 million.
Naira Remains Stable Despite Strong Dollar Demand
The latest Dollar to Naira exchange rate suggests the naira continues to trade within a relatively narrow range in the parallel market even as demand for foreign currency remains robust.
Currency dealers said demand is being driven by importers, manufacturers, international travellers, businesses settling overseas obligations and Nigerians paying tuition and medical expenses abroad. Although the official Nigerian Foreign Exchange Market (NFEM) has recorded stronger liquidity in recent weeks, many individuals and businesses continue to rely on the parallel market because of its accessibility and faster transaction process.
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 travellers.
- 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 latest Nigerian Foreign Exchange Market (NFEM) rate stood at approximately N1,329.12 per US dollar, significantly below the prevailing parallel market rate. The difference reflects the distinct pricing mechanisms and liquidity conditions in the official and black markets.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export earnings, investor confidence, external reserves, diaspora remittances and monetary policy developments. Continued improvements in official dollar supply could provide additional support for the naira, while sustained demand in the parallel market may keep exchange rates around current levels.
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