See The Dollar To Naira Exchange Rate Today – July 8, 2026

The exchange rate between the United States Dollar and the Nigerian Naira at the parallel market, popularly known as the black market, remained a key focus for traders and businesses on Tuesday, July 7, 2026.

According to market information obtained by Ireporter Online from Bureau De Change (BDC) operators in Lagos, the US dollar traded at an average selling rate of ₦1,410 and a buying rate of ₦1,400 in the parallel market.

The report indicates that these rates reflect transactions within the informal foreign exchange market, where many Nigerians source foreign currency outside the official banking system.

Meanwhile, data from the official foreign exchange market showed that the Central Bank of Nigeria (CBN) recorded the dollar at a highest exchange rate of ₦1,380 and a lowest rate of ₦1,369.

The apex bank has consistently maintained that it does not recognize the parallel market for foreign exchange transactions and has continued to advise individuals and businesses seeking foreign currency to obtain it through authorized commercial banks and other approved financial institutions.

Market observers also noted that foreign exchange rates may differ across locations and dealers, as prices are influenced by demand, supply, and prevailing market conditions.