Many Nigerians continue to monitor the Dollar-to-Naira exchange rate in both the official and parallel foreign exchange markets.
Black Market (Parallel Market) Exchange Rate
According to traders at the Lagos parallel market, popularly known as the black market or Aboki FX market, the United States Dollar exchanged at an average selling rate of ₦1,400 and a buying rate of ₦1,390 on Tuesday, June 16, 2026.
| Dollar to Naira (USD/NGN) | Black Market Rate |
|---|---|
| Selling Rate | ₦1,400 |
| Buying Rate | ₦1,390 |
Official CBN Exchange Rate
The Central Bank of Nigeria (CBN) continues to maintain that foreign exchange transactions should be conducted through authorized financial institutions and does not recognize the parallel market.
Latest official market data showed the Dollar traded within the following range:
| Dollar to Naira (USD/NGN) | CBN Rate |
|---|---|
| Highest Rate | ₦1,359 |
| Lowest Rate | ₦1,355 |
Important Notice
Foreign exchange rates are subject to market forces and may vary depending on location, volume of transaction, and the dealer involved. As a result, the rates at which individuals buy or sell foreign currency may differ from those quoted above.
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