Dollar Vs Naira: Today’s Exchange Rate Update For February 7, 2026

The exchange rate between the United States dollar and the Nigerian naira at the black market, also known as the parallel market, remained steady on Friday, February 6, 2026. According to Ireporter Online, checks within the Lagos parallel market revealed that the dollar was sold at ₦1,450, while buyers purchased the foreign currency at ₦1,435.

Market operators, including Bureau De Change traders, confirmed that individuals seeking to exchange dollars for naira could access transactions within this range, although rates may vary slightly depending on location and negotiation. Financial analysts note that the black market continues to reflect demand pressures amid limited foreign exchange supply.

It is important to note that the Central Bank of Nigeria does not recognize the parallel market for foreign exchange transactions. The apex bank has consistently advised Nigerians to conduct all forex dealings through licensed commercial banks.

Meanwhile, official figures from the Central Bank of Nigeria showed that the dollar exchanged between ₦1,361 and ₦1,373 at the official market. Experts caution that exchange rates are subject to fluctuation, and the actual price at which forex is bought or sold may differ from published figures.