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 ₦1,395 per dollar for buying on Thursday, August 27, 2026.
The latest figures, according to sources at the Bureau De Change (BDC), indicate that the dollar remained at ₦1,407 on the selling side, while the buying rate declined slightly to ₦1,395.
This means that individuals selling one US dollar to parallel-market dealers could receive about ₦1,395, while those looking to purchase one dollar could pay approximately ₦1,407.
However, black-market exchange rates are not fixed and can vary depending on the dealer, location, demand and supply, and prevailing market conditions.
Dollar to Naira Black Market Rate
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate |
|---|---|
| Selling Rate | ₦1,407 |
| Buying Rate | ₦1,395 |
The difference between the buying and selling prices represents the margin between the rates offered by currency dealers.
Dollar to Naira CBN Rate Today
The Central Bank of Nigeria (CBN) rates provided for Thursday showed a highest rate of ₦1,345 and a lowest rate of ₦1,335.
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,345 |
| Lowest Rate | ₦1,335 |
There is therefore a noticeable gap between the reported parallel-market rates and the CBN figures for the day.
CBN Position on Black Market Dollar Rate
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 advised individuals and businesses seeking foreign exchange to use authorised channels, including banks and other approved forex dealers.
The black-market rates published above should therefore be regarded as indicative figures obtained from parallel-market operators and not as official CBN exchange rates.
Dollar Rate May Change
Forex buyers and sellers should also be aware that the actual rate available to them may differ from the figures published in this report.
Exchange rates in the parallel market can fluctuate during the day in response to changes in demand and supply. Rates offered by banks and authorised foreign exchange dealers may also differ.
Customers are advised to confirm the applicable rate with their bank or an authorised forex dealer before completing any foreign exchange transaction.
