The Nigerian naira continued to trade against the United States dollar at varying rates across the parallel and official foreign exchange markets on Friday, June 19, 2026.

According to sources from Bureau De Change (BDC) operators in Lagos, the dollar exchanged at ₦1,406 in the parallel market, popularly known as the black market, for selling transactions, while buyers purchased the currency at ₦1,396.

Dollar to Naira Black Market Rate

Dollar to Naira (USD/NGN) Black Market Rate
Buying Rate ₦1,396
Selling Rate ₦1,406

The black market remains a major source of foreign exchange for many Nigerians despite repeated warnings from monetary authorities against patronizing the unofficial market.

Meanwhile, the Central Bank of Nigeria (CBN) continues to maintain that it does not recognize transactions conducted in the parallel market. The apex bank has consistently advised individuals and businesses seeking foreign exchange to obtain it through authorized financial institutions and licensed channels.

Dollar to Naira CBN Rate

Available data from the official market showed that the naira traded within the following range against the dollar:

Dollar to Naira (USD/NGN) CBN Official Rate
Highest Rate ₦1,374
Lowest Rate ₦1,365

The difference between the official exchange rate and the parallel market rate reflects the persistent demand for foreign currency and varying market forces influencing forex trading across the country.

Financial analysts note that exchange rates in both the official and unofficial markets are subject to fluctuations based on demand and supply dynamics, foreign currency inflows, economic policies, and market sentiment.

It is important to note that forex rates may vary from one location, dealer, or transaction to another. As a result, the actual rate at which individuals buy or sell foreign currency may differ slightly from the figures quoted above.

Prospective buyers and sellers are therefore advised to verify prevailing rates with their banks, licensed Bureau De Change operators, or other authorized dealers before carrying out any foreign exchange transaction.

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