Black Market Dollar Rate Today: How Much Is Dollar to Naira? — Friday, October 9, 2026

The Dollar to Naira exchange rate in Nigeria’s black market remained relatively stable on Friday, October 9, 2026, as the United States dollar traded at approximately N1,375 for buying and N1,390 for selling, according to parallel-market exchange rate trackers.

The latest figures indicate that the naira continues to trade within a relatively narrow range against the dollar despite sustained demand for foreign exchange from businesses, international travellers and individuals making overseas payments.

Bureau De Change (BDC) operators are buying one US dollar from Nigerians at approximately N1,375, while customers purchasing dollars are paying around N1,390.

The difference between the buying and selling rates stands at N15 per dollar, although actual transaction prices may vary depending on location, dealer and transaction size.

How Much Is Dollar to Naira Today in Black Market?

The indicative black market exchange rates for Friday, October 9, 2026, are:

At these rates, Nigerians exchanging dollars can expect the following amounts:

• $100: N137,500 when selling and N139,000 when buying.
• $200: N275,000 when selling and N278,000 when buying.
• $500: N687,500 when selling and N695,000 when buying.
• $1,000: N1,375,000 when selling and N1,390,000 when buying.

The figures are indicative calculations based on prevailing quotes and do not include additional transaction charges.

Naira Maintains Relative Stability in Parallel Market

The naira has maintained relative stability against the United States dollar in recent trading sessions, supported by a combination of foreign exchange availability and market expectations.

Although the parallel market continues to attract demand from importers, manufacturers, international travellers and Nigerians funding education abroad, exchange rate movements have remained comparatively contained.

The current trading range also reflects the importance of dollar supply in determining short-term currency movements.

A sustained increase in foreign exchange availability could reduce pressure on the naira, while stronger demand without corresponding supply may push the dollar higher.

Factors Influencing Dollar to Naira Exchange Rate

Several economic developments continue to influence Nigeria’s foreign exchange market.

Foreign Exchange Liquidity: The availability of dollars through banks, authorised dealers and other channels remains an important determinant of exchange rate movements.

Crude Oil Earnings: Nigeria depends significantly on crude oil exports for foreign exchange revenue. Changes in production, international oil prices and export receipts can affect dollar supply.

Foreign Investment: Portfolio investment, foreign direct investment and other capital inflows contribute to foreign currency availability.

Diaspora Remittances: Money transferred by Nigerians living abroad provides an additional source of foreign exchange.

Monetary Policy: Interest rates, inflation expectations and policies implemented by the Central Bank of Nigeria influence investor confidence and demand for the naira.

Together, these factors determine how the Nigerian currency responds to domestic and international economic developments.

Official Dollar to Naira Exchange Rate

The official Nigerian Foreign Exchange Market (NFEM) operates under the framework established by the Central Bank of Nigeria (CBN).

The official exchange rate remained around N1,332 per US dollar in the latest available market data, below the prevailing parallel-market selling rate.

The difference between the two markets reflects variations in pricing, transaction conditions and foreign exchange availability.

Individuals and businesses seeking official exchange rate information can consult the CBN’s published market data before completing transactions.

Dollar to Naira Outlook

The direction of the naira in the coming trading sessions will depend largely on dollar availability, demand from businesses, foreign investment flows and developments in Nigeria’s external sector.

Improved foreign exchange inflows could support the local currency, particularly if demand remains moderate.

However, renewed pressure from import payments, international travel and other foreign currency obligations could increase demand in the parallel market.

Market participants will also continue monitoring the CBN’s monetary policy decisions, external reserves and developments in global oil markets.

For daily Dollar to Naira exchange rate updates, Nigerian business news, financial market developments and economic analysis, visit Investors King.