Dollar To Naira: Black Market Exchange Rate Hits ₦1,430

The exchange rate of the US dollar against the Nigerian naira remained under close watch in the parallel market on Tuesday, August 11, 2026, as demand for foreign currency continued to influence rates.

According to Ireporter Online, operators in the Lagos Parallel Market quoted the dollar at ₦1,430 for selling and ₦1,415 for buying.

The latest figures were obtained from sources within the Bureau De Change (BDC) market.

At the official market, the Central Bank of Nigeria (CBN) exchange rate was reported within a range of ₦1,358 and ₦1,364 per dollar, depending on the applicable rate.

The difference between the official and parallel-market rates highlights the varying conditions across Nigeria’s foreign exchange market.

However, exchange rates in the black market are not fixed and may differ depending on location, dealer and prevailing demand and supply conditions.

The CBN does not recognise the parallel market as an official foreign exchange channel and has continued to direct individuals seeking forex to authorised financial institutions.

Market participants and members of the public are therefore advised to confirm prevailing rates before conducting any foreign exchange transaction.