The Nigerian naira recorded another fluctuation against the United States dollar at the parallel market on Wednesday, May 13, 2026, as forex demand continued across major trading centres.
According to Bureau De Change (BDC) operators in the Lagos Parallel Market, popularly known as the black market, the dollar exchanged at ₦1388 for buying and ₦1398 for selling.
Dollar To Naira Black Market Rate
| Dollar to Naira (USD to NGN) | Black Market Rate |
|---|---|
| Buying Rate | ₦1388 |
| Selling Rate | ₦1398 |
Meanwhile, official rates released by the Central Bank of Nigeria showed lower figures compared to the parallel market rates.
Dollar To Naira CBN Rate
| Dollar to Naira (USD to NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1376 |
| Lowest Rate | ₦1367 |
The difference between the official exchange rate and the black market rate continues to reflect the pressure on Nigeria’s foreign exchange market as businesses and individuals seek easier access to foreign currency.
The Central Bank of Nigeria has consistently maintained that it does not recognise the parallel market and has advised Nigerians seeking forex transactions to use approved financial institutions and commercial banks.
However, exchange rates in the black market often vary depending on location, transaction volume, and market demand, meaning the rates at which individuals buy or sell dollars may differ slightly from publicly quoted figures.
