The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, stood at approximately ₦1,415 on the buying side and ₦1,425 on the selling side on Friday, August 7, 2026, as demand for the United States dollar remained firm across major foreign exchange markets.
According to prevailing Bureau De Change (BDC) quotations, operators are buying one US dollar from Nigerians at around ₦1,415, while Nigerians seeking to purchase dollars are paying approximately ₦1,425 per dollar.
The parallel market continues to serve individuals and businesses requiring foreign currency for imports, international travel, overseas tuition, medical expenses and other dollar-denominated transactions.
Black market exchange rates are determined largely by demand and supply and may vary between dealers and locations. Transaction size and immediate dollar availability can also affect the final rate offered.
How Much Is Dollar to Naira Today in Black Market?
For Nigerians asking, “How much is Dollar to Naira today in black market?”, the prevailing rates on Friday, August 7, 2026, are:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | ₦1,415 | ₦1,425 |
At these rates, someone selling $100 would receive approximately ₦141,500, while purchasing $100 would cost around ₦142,500.
For a larger transaction, $1,000 would be worth approximately ₦1.415 million at the buying rate, while purchasing $1,000 would cost about ₦1.425 million at the selling rate.
Dollar to Naira Remains Around N1,400 Level
The naira has remained within the ₦1,400 range in the parallel market as foreign exchange traders continue to respond to changes in dollar demand and availability.
The relatively narrow difference between buying and selling rates indicates that BDC operators are maintaining a tight spread as they balance available foreign currency supply against customer demand.
Importers, manufacturers, international travelers and Nigerians paying foreign obligations remain important sources of dollar demand.
What Is Driving the Dollar to Naira Exchange Rate?
Foreign exchange liquidity remains one of the major factors determining the performance of the naira.
Nigeria’s crude oil export receipts, diaspora remittances, foreign portfolio investments and foreign direct investment contribute to dollar availability in the economy.
On the demand side, businesses require foreign exchange to import machinery, industrial inputs and other goods, while individuals require dollars for international travel, education and other overseas expenses.
Changes in these demand and supply conditions can therefore influence the value of the naira in both the official and parallel markets.
Official Dollar to Naira Exchange Rate
Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN), which oversees monetary and foreign exchange policies.
The official exchange rate can differ from the parallel market rate because of differences in liquidity, accessibility and market conditions.
Individuals and businesses should therefore monitor prevailing exchange rates when making foreign exchange decisions.
Dollar to Naira Outlook
The near-term direction of the Dollar to Naira exchange rate will largely depend on foreign exchange liquidity, crude oil earnings, external reserves, diaspora remittances, foreign investment flows and demand from businesses and individuals.
Stronger dollar inflows could provide additional support for the naira, while increased demand without a corresponding rise in supply could place renewed pressure on the currency.
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