The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Thursday, August 27, 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.
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.
The latest exchange rate indicates that the naira continued to trade within a narrow range in the parallel market despite sustained demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling overseas obligations. While demand for the greenback remains firm, improved liquidity in the official foreign exchange market has helped keep the parallel market relatively stable.
Black market exchange rates are determined by prevailing demand and supply conditions and may vary slightly depending on location, transaction size and individual Bureau De Change operators.
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, August 27, 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 Maintains Stability in the Parallel Market
The latest Dollar to Naira exchange rate suggests the naira has remained relatively stable as improved foreign exchange liquidity continues to support market sentiment.
Currency dealers said businesses importing goods, manufacturers sourcing raw materials, international travelers and Nigerians making overseas payments remain the major drivers of demand for dollars. However, stronger offshore investor inflows and improved official market liquidity have helped prevent significant swings in the parallel market exchange rate.
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 has remained significantly below the parallel market rate as the two markets continue to 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 export earnings, investor confidence, external reserves, diaspora remittances and monetary policy developments. Continued improvements in official dollar supply could provide further support for the naira, while sustained demand in the parallel market is expected to keep exchange rates around current levels.
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