The exchange rate between the US dollar and the Nigerian naira continued to trade at different levels across the foreign exchange market on Monday, August 10, 2026.
At the Lagos parallel market, commonly referred to as the black market or Aboki market, Bureau De Change (BDC) sources quoted the dollar at ₦1,430 for selling and ₦1,415 for buying.
This means that customers looking to purchase one US dollar from parallel-market operators were required to pay around ₦1,430, while those selling a dollar to the operators could receive approximately ₦1,415.
The latest figures indicate a ₦15 difference between the buying and selling rates at the parallel market.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD/NGN) | Black Market Rate |
|---|---|
| Selling Rate | ₦1,430 |
| Buying Rate | ₦1,415 |
The parallel-market rates are based on information obtained from BDC sources in Lagos and may vary depending on the location, demand for foreign currency and individual dealer.
Meanwhile, the official foreign exchange market continued to record lower dollar-to-naira figures compared with the parallel market.
According to the latest Central Bank of Nigeria (CBN) figures available, the dollar was quoted at a highest rate of ₦1,367 and a lowest rate of ₦1,363.
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD/NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,367 |
| Lowest Rate | ₦1,363 |
The difference between the official and parallel-market rates shows that the two segments of Nigeria’s foreign exchange market continue to operate at different price levels.
It is important to note that the Central Bank of Nigeria does not recognise the parallel or black market as an official foreign exchange market. The apex bank has continued to advise individuals and businesses seeking foreign exchange to conduct their transactions through authorised channels, including banks and other licensed financial institutions.
Why Dollar Rates May Differ
Dollar-to-naira rates can change several times depending on market conditions. Factors such as foreign exchange supply, demand from importers and businesses, international transactions and broader developments in the Nigerian economy can influence the value of the naira against the dollar.
Rates quoted by individual BDC operators may also differ from one location to another. As a result, the figures published in this report should be treated as indicative market rates rather than fixed prices.
Anyone buying or selling foreign currency is therefore advised to confirm the prevailing rate with their bank or licensed foreign exchange dealer before carrying out a transaction.
Note: The dollar-to-naira rates quoted in this article are based on available market information for Monday, August 10, 2026. Actual rates may differ depending on the dealer, location, transaction amount and prevailing market conditions.
