The exchange rate of the US dollar to the Nigerian naira at the Lagos Parallel Market, popularly known as the black market, stood at ₦1,407 per dollar for selling and ₦1,398 per dollar for buying on Wednesday, August 26, 2026.
The latest rate, according to sources at the Bureau De Change (BDC), reflects the prevailing trading levels in the parallel foreign exchange market.
This means that individuals looking to sell one US dollar at the parallel market could receive about ₦1,398, while those buying one dollar could pay approximately ₦1,407.
However, exchange rates in the parallel market are not fixed and may vary depending on the location, dealer and prevailing demand and supply conditions.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate |
|---|---|
| Selling Rate | ₦1,407 |
| Buying Rate | ₦1,398 |
The difference between the buying and selling rates represents the margin maintained by currency dealers in the market.
Dollar to Naira CBN Rate Today
The Central Bank of Nigeria (CBN) rate available in the report showed a highest rate of ₦1,346 and a lowest rate of ₦1,341.
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,346 |
| Lowest Rate | ₦1,341 |
The figures show a noticeable difference between the reported parallel-market rates and the CBN rates.
CBN Position on Black Market Forex
It is important to note that the Central Bank of Nigeria does not recognise the parallel market as an official foreign exchange market.
The apex bank has directed individuals and businesses seeking foreign exchange to use authorised channels, including their respective banks.
Therefore, the black-market figures reported in this article should be viewed as indicative rates from parallel-market operators and not as official CBN rates.
Exchange Rates May Vary
Forex buyers and sellers should also note that the actual rate available to them may differ from the figures published above.
Parallel-market rates can change during the day based on market conditions, while rates offered by authorised financial institutions may also differ.
Readers are therefore advised to confirm the applicable rate with their bank or authorised foreign exchange dealer before carrying out any transaction.
