The Dollar to Naira exchange rate at the Lagos Parallel Market, popularly known as the black market, showed a slight increase on Thursday, August 6, 2026, as the United States dollar traded at ₦1,430 for selling and ₦1,415 for buying.
According to sources at the Bureau De Change (BDC) market, the latest rates reflect the prevailing prices in the unofficial foreign exchange market, where exchange rates are largely determined by demand and supply.
It is important to note that the Central Bank of Nigeria (CBN) does not recognise the parallel market as an official source for foreign exchange transactions. The apex bank has consistently advised individuals and businesses seeking foreign currency to obtain it through authorised commercial banks and other licensed financial institutions.
Dollar to Naira Black Market Rate Today (August 6, 2026)
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1,415 |
| Selling Rate | ₦1,430 |
Dollar to Naira CBN Official Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,364 |
| Lowest Rate | ₦1,361 |
The difference between the official CBN exchange rate and the parallel market rate continues to highlight the gap between Nigeria’s official and unofficial foreign exchange markets.
However, exchange rates in the black market are not fixed and may vary depending on location, transaction volume, and the individual Bureau De Change operator. As a result, the amount at which you buy or sell foreign currency may differ slightly from the rates quoted in this report.
Individuals intending to exchange foreign currency are therefore advised to confirm the prevailing rate before completing any transaction.
