Naira Exchange Rate Today | Sojworldnews
Naira Exchange Rate Today: Dollar to Naira Black Market Rate Today
The black market rate for the dollar stands at ₦1,405 for buying and ₦1,415 for selling. This gap between buying and selling is called the spread. Street traders, also known as “aboki” dealers, set these rates based on demand.
Meanwhile, the official market tells a different story. The naira closed at ₦1,367.76 per dollar on the Nigerian Foreign Exchange Market (NFEM). That is a seventh straight session of gains for the naira at the official window. So the currency is strengthening officially, even as street rates stay higher.
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Naira Exchange Rate Today: Why the Rates Differ
The Central Bank of Nigeria controls the official market. Banks and licensed dealers trade there. But dollar supply often falls short of demand. So many Nigerians turn to the parallel market instead. This market operates outside official controls. It reflects real street-level demand for foreign currency.
Global factors are adding pressure too. Oil prices have climbed due to Middle East tensions. That usually supports the naira, since Nigeria depends on oil exports. However, local demand for dollars remains strong. Businesses, students, and travelers keep buying foreign currency for school fees, imports, and personal use.
Today’s Currency Table
| Currency | Black Market Buy (₦) | Black Market Sell (₦) | Official/CBN Rate (₦) |
|---|---|---|---|
| US Dollar (USD) | 1,405.00 | 1,415.00 | 1,367.76 |
| British Pound (GBP) | 1,890.00 | 1,910.00 | 1,838.50* |
| Euro (EUR) | 1,580.00 | 1,600.00 | 1,558.90* |
*Official GBP and EUR figures are estimated from the CBN dollar rate and current interbank crosses. Rates change often. Always confirm with your bank or a licensed dealer before you trade.
Other Currencies to Watch
The naira is not the only currency making news today. Here is how other currencies performed in the wider market.
| Currency Pair | Rate | Trend |
|---|---|---|
| EUR/USD | ≈ 1.139 | Euro softer after the ECB held rates steady |
| GBP/USD | Pulled back this week | Weaker, on higher UK bond yields and oil costs |
| USD/JPY | Near multi-decade lows for the yen | Yen stays weak on cautious Bank of Japan policy |
| USD/GHS (Ghana cedi) | ≈ 11.60 | Cedi fairly stable; Ghana’s forex market stays open |
What This Means for You
If you are sending money to Nigeria, timing matters. The official rate is much cheaper than the street rate today. So bank transfers or licensed remittance apps may save you money. If you must use the parallel market, compare rates from a few dealers first. Rates can shift within hours.
Watch the coming week closely too. The US Federal Reserve meets soon, and its decision could move the dollar sharply. A stronger dollar abroad often pushes naira black market rates even higher.
Rates are compiled from parallel market reports and official CBN data as of July 24–26, 2026. Exchange rates change daily. Confirm current rates before you exchange money.
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