- Dollar to Naira Exchange Rate Today, August 5, 2026
- Black market dollar rates ranged between ₦1,410 and ₦1,425.
- Exchange rates remain influenced by demand, liquidity and foreign exchange supply.
The Nigerian naira traded relatively stable against the United States dollar in the official foreign exchange market on Tuesday, while the parallel market continued to reflect stronger demand for the greenback.
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EKO HOT BLOG reports that according to data from the Central Bank of Nigeria (CBN), the naira exchanged at ₦1,362.55 per US dollar in the Nigerian Foreign Exchange Market (NFEM), improving slightly from ₦1,364.83/$ recorded in the previous trading session.
In the parallel market, also known as the black market, the dollar traded at around ₦1,410 to ₦1,425 depending on location and dealer, highlighting the continued gap between the official and unofficial foreign exchange markets.
Dollar to Naira Exchange Rate Today (August 5, 2026)
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Official (CBN/NFEM) | ₦1,362.55 | ₦1,362.55 |
| Black Market (Parallel Market) | ₦1,410 | ₦1,425 |
Exchange rates may vary across banks, Bureau De Change operators and locations.
The difference between the official and parallel market rates continues to reflect persistent demand for foreign exchange outside the official market. Analysts say exchange rate movements remain influenced by foreign exchange inflows, demand from importers, monetary policy decisions and overall market liquidity.
The Central Bank of Nigeria has maintained that the official exchange rate is determined through the Nigerian Foreign Exchange Market, while rates in the parallel market are driven by market demand and supply.
Nigerians planning foreign exchange transactions are advised to confirm prevailing rates with their banks or licensed Bureau De Change operators before completing any transaction, as exchange rates fluctuate throughout the trading day.
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