Dollar to Naira Black Market Exchange Rate Today, Monday, October 26, 2026

The Dollar to Naira exchange rate in Nigeria’s black market stood at approximately N1,375 for buying and N1,390 for selling on Monday, October 26, 2026, as the naira opened the new trading week amid continued demand for foreign currency.

The latest parallel-market quotations indicate that the United States dollar remains more expensive than the official exchange rate, although prices vary among Bureau De Change (BDC) operators and across trading locations.

At the prevailing rates, individuals selling dollars to currency dealers receive approximately N1,375 per dollar, while those purchasing the American currency pay around N1,390.

Other exchange rate trackers report slightly lower quotations, reflecting differences in pricing and available dollar liquidity.

The indicative black market exchange rates for Monday, October 26, 2026, are:

Based on these quotations, the following conversions apply:

The difference between the buying and selling rates stands at N15 per dollar. Actual transaction prices may vary depending on the dealer, location and amount exchanged.

The naira began Monday’s trading within its recent parallel-market range, with the indicative quotations matching those reported in Friday’s Investors King exchange rate update.

However, the comparison does not establish that the currency remained unchanged throughout the weekend, as parallel-market quotations are not uniform across dealers.

For Nigerian businesses dependent on imported raw materials, machinery and finished products, the exchange rate remains an important factor in determining operating costs.

Manufacturers and importers purchasing dollars at higher rates face increased naira-denominated expenses, which can affect profit margins and retail prices.

International travellers, students studying abroad and individuals settling overseas obligations are similarly exposed to changes in the dollar’s selling rate.

The direction of the currency will depend on whether available foreign exchange supply is sufficient to meet demand in the coming trading sessions.

At the official Nigerian Foreign Exchange Market (NFEM), the naira closed at approximately N1,370 per US dollar on Friday, October 23, 2026, compared with N1,365 in the preceding session.

The movement represents a depreciation of N5 against the dollar, equivalent to approximately 0.37%.

Using Friday’s official closing rate and Monday’s indicative parallel-market selling rate of N1,390, the difference between the two markets stands at approximately N20 per dollar.

The comparison uses the latest identified official closing rate, as Monday’s trading session had not concluded at the time of reporting.

Separate CBN currency quotations for October 23 placed the dollar’s central rate at approximately N1,361.34, highlighting the importance of distinguishing the published central quotation from the NFEM closing rate.

The Central Bank of Nigeria (CBN) oversees the official foreign exchange framework and publishes exchange rate information used by banks, businesses and investors.

Several economic developments continue to shape Nigeria’s foreign exchange market.

Foreign Exchange Liquidity: The availability of dollars through authorised dealers, banks and other channels influences exchange rate movements. Stronger supply can ease pressure on the naira when demand remains relatively stable.

Crude Oil Export Earnings: Nigeria’s crude oil production, international oil prices and export receipts influence foreign exchange inflows and the country’s capacity to meet external payment obligations.

Import Demand: Manufacturers and importers require dollars to purchase machinery, raw materials and finished goods, making international trade an important source of foreign currency demand.

Foreign Investment: Portfolio investment and foreign direct investment contribute to dollar inflows, while the repatriation of investment proceeds can increase demand for foreign currency.

Diaspora Remittances: Transfers from Nigerians living abroad provide an additional source of foreign exchange and can support currency market liquidity.

Monetary Policy: Interest rates, liquidity management and foreign exchange regulations implemented by the CBN influence investor expectations and financial market conditions.

The naira’s performance during the new trading week will depend largely on the balance between dollar demand and foreign exchange supply.

Improved export earnings, stronger capital inflows and increased liquidity in the official market could provide support for the Nigerian currency.

However, sustained demand from importers, manufacturers and individuals making overseas payments could put renewed pressure on the parallel market if available dollar supply remains insufficient.

Market participants will continue monitoring official foreign exchange transactions, external reserves, crude oil prices and monetary policy developments for indications of the naira’s near-term direction.

For daily Dollar to Naira exchange rate updates, Nigerian business news, financial market developments and economic analysis, visit Investors King.