Black Market Dollar to Naira Exchange Rate for Today, Wednesday, September 23, 2026
The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, recorded a slight improvement for the naira on Wednesday, September 23, 2026, as the US dollar traded at N1,382 for buying and N1,385 for selling across major Bureau De Change (BDC) markets.
The latest market data indicates continued stability in the foreign exchange market amid improved liquidity.
According to Bureau De Change operators, the N1,382 buying rate represents the amount dealers pay Nigerians selling US dollars, while the N1,385 selling rate is the amount customers pay to purchase one US dollar. Exchange rates may vary slightly depending on location, transaction size and individual dealers.
The parallel market continues to serve 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 Black Market?
The prevailing black market exchange rate as of Wednesday, September 23, 2026, is:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,382 | N1,385 |
At the prevailing rates:
- Selling $100 would fetch approximately N138,200.
- Buying $100 would cost approximately N138,500.
- Selling $1,000 would yield about N1.382 million.
- Purchasing $1,000 would cost approximately N1.385 million.
Naira Extends Recent Gains
Compared with the previous trading session, the naira strengthened modestly in the parallel market as the dollar’s selling rate eased from N1,390 to N1,385, while the buying rate improved from N1,375 to N1,382. The movement reflects improved foreign exchange liquidity and relatively balanced market demand.
Key Factors Driving 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 and external reserves.
- 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, regulated by the Central Bank of Nigeria (CBN), traded at approximately N1,327.78 per US dollar, leaving a spread of about N57 between the official and parallel market selling rates.
Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, oil export earnings, external reserves, investor confidence and monetary policy. Continued improvements in FX inflows and external reserves could provide additional support for the naira, while sustained demand for dollars is expected to keep the parallel market active.
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