Dollar Crashes? See The Naira Exchange Rate For August 4, 2026

The exchange rate between the United States dollar and the Nigerian naira at the parallel market, popularly referred to as the black market or Aboki FX, remained under close watch as traders quoted fresh rates on Monday, August 3, 2026.

According to Ireporter Online, Bureau De Change (BDC) operators in Lagos exchanged the dollar at ₦1,425 for selling and ₦1,410 for buying in the parallel market.

The report noted that exchange rates in the unofficial forex market continue to fluctuate based on prevailing market conditions, meaning the rates offered by individual traders may differ from those quoted.

Meanwhile, the Central Bank of Nigeria (CBN) has maintained its position that it does not recognise transactions carried out in the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to obtain it through authorised financial institutions and commercial banks.

At the official foreign exchange market, data showed that the dollar traded within a range of ₦1,360 to ₦1,372, reflecting the CBN’s official exchange rates for the period.