By Kayode Sanni-Arewa and Prosper
The exchange rate between the U.S. dollar and the Nigerian naira remained relatively stable in the parallel market.
According to information gathered from traders at the Lagos Bureau De Change (BDC), the dollar is selling at ₦1,459 and buying at ₦1,445 in the black market. 
However, it is important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market (also known as the black market). The apex bank has consistently advised individuals and businesses seeking foreign exchange to use official banking channels for all currency transactions.
Dollar to Naira Black Market Rate Today
Market Buying Rate Selling Rate
Black Market (Parallel Market) ₦1,445 ₦1,459
Dollar to Naira CBN Rate Today
Market Lowest Rate Highest Rate
Central Bank of Nigeria (CBN) ₦1,430 ₦1,442
Exchange rates often vary slightly depending on location, volume of transaction, and market forces. Therefore, the rate at which individuals buy or sell forex may differ from the figures published above.
Analysts say the naira’s continued pressure against the dollar reflects persistent demand for foreign exchange from importers and businesses amid limited supply in the official market.
