See Today’s Dollar To Naira Exchange Rate – July 16, 2026

Information gathered from Bureau De Change (BDC) operators indicates that the exchange rate remains significantly higher than the official market rate, reflecting the continued disparity between the parallel and regulated foreign exchange markets.

At the official market, data from the Central Bank of Nigeria (CBN) showed that the dollar traded within a range of ₦1,379 to ₦1,384.

The apex bank has consistently maintained that it does not recognise the parallel market for foreign exchange transactions and has advised individuals and businesses seeking foreign currency to conduct such transactions through authorised financial institutions and commercial banks.

Market observers also noted that exchange rates in the parallel market are subject to fluctuations and may vary across locations and dealers, meaning the actual buying or selling price could differ from the quoted figures depending on prevailing market conditions.