Black Market Dollar to Naira Exchange Rate for Today, Tuesday, August 18, 2026
The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained largely stable on Tuesday, August 18, 2026, as demand for the United States dollar continued to match available supply across major Bureau De Change (BDC) markets.
According to prevailing market quotations obtained from Bureau De Change operators, the Dollar to Naira exchange rate today is:
- Buying Rate: ₦1,405 per US Dollar (the rate at which Bureau De Change operators buy dollars from Nigerians)
- Selling Rate: ₦1,415 per US Dollar (the rate at which Bureau De Change operators sell dollars to Nigerians)
The latest rates indicate a marginal appreciation of the naira compared to previous sessions, reflecting improved dollar availability in parts of the parallel market. Exchange rates, however, 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 Tuesday, August 18, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | ₦1,405 | ₦1,415 |
The ₦1,405 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the ₦1,415 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 ₦140,500.
- Buying $100 would cost approximately ₦141,500.
- Selling $1,000 would yield about ₦1.405 million, while purchasing $1,000 would cost approximately ₦1.415 million.
Naira Records Modest Gain in the Parallel Market
The latest Dollar to Naira exchange rate suggests the naira posted a slight gain in the parallel market as foreign exchange supply improved marginally.
Currency traders said demand from importers, manufacturers, international travelers, students paying tuition abroad and businesses meeting overseas obligations remained strong, but improved liquidity helped prevent a sharper increase in exchange rates.
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 overall 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 exchange rate remains below the parallel market rate because the two markets operate under different pricing mechanisms, liquidity conditions and regulatory frameworks.
Individuals and businesses are advised to compare official and parallel market rates before carrying out foreign exchange transactions.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export earnings, external reserves, investor confidence, diaspora remittances and monetary policy developments. Continued improvements in dollar supply could provide additional support for the naira, while persistent demand in the parallel market may keep exchange rates within the current trading range.
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