- Dollar To Naira Black Market Official Exchange Rate Today, August 4, 2026
- Buying and selling rates determine the cost of dollar transactions.
- Exchange rates may change based on market demand and supply.
The dollar to naira exchange rate remains a major economic indicator watched closely by Nigerians, businesses, investors and travellers as fluctuations in the foreign exchange market continue to affect the cost of goods and services.
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EKO HOT BLOG reports that on Tuesday, August 4, 2026, the value of the US dollar against the Nigerian naira varied between the official foreign exchange market and the parallel market, commonly known as the black market.
The official exchange rate reflects transactions in Nigeria’s regulated foreign exchange market, while the black market rate is determined by demand and supply in the parallel market. The Central Bank of Nigeria continues to publish official foreign exchange market data, while parallel market rates can vary depending on location, dealer and market conditions.
The difference between the official and black market rates is closely monitored by individuals and businesses that need foreign currency for international transactions, imports, travel, school fees and other payments.
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Official NFEM Rate | ₦1,368.22 | ₦1,368.22 |
| Black Market | ₦1,410 | ₦1,425 |
The buying rate refers to the price at which a dealer or exchange provider buys US dollars from a customer, while the selling rate represents the price at which the dealer sells dollars to the customer.
Exchange rates may change throughout the day due to fluctuations in foreign exchange demand and supply. Nigerians are therefore advised to confirm the prevailing rate before conducting any currency exchange transaction.
