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Dollar To Naira Exchange Rate For February 21, 2026

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nigerian naira 2026 02 21T062924.681

According to financial market observers, the dollar to naira exchange rate on the black market, also referred to as the parallel market, demonstrated strong activity on Friday, February 20, 2026. Traders in Lagos’ parallel foreign exchange market quoted the United States dollar at ₦1,330 for those selling, while buyers exchanged at ₦1,305, reflecting sustained demand for the foreign currency, industry sources reported.

Market participants noted that the rates, which can vary slightly across different Bureau De Change operators, indicate continued pressure on the naira within unofficial trading channels. These parallel market figures contrast with the rates published by the Central Bank of Nigeria, where the dollar fluctuated between ₦1,343 and ₦1,349 on the same day.

Observers reminded the public that the Central Bank of Nigeria does not officially recognize the parallel foreign exchange market and has maintained that individuals seeking foreign currency should transact through regulated banking institutions. Local traders also cautioned that the rates at which individuals may buy or sell currency could differ from those outlined, as black market prices are subject to rapid changes based on demand and supply conditions.

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