Naira Exchange Rate Today, July 31, 2026: Dollar, Pound, Euro Black Market Rates
The naira opened Friday on a mixed note. It held firm at the official window. But the street market told a different story.
Below, we break down today’s rates. You will find the official CBN rate. You will also find the black market rate, also called the parallel or street rate.
Official Exchange Rate Today
The naira traded around ₦1,366.73 per dollar at the official Nigerian Foreign Exchange Market (NFEM). That figure comes from the Central Bank of Nigeria’s most recent trading data. So, the currency has stayed fairly stable this week at the official window.
Meanwhile, the picture looks different once you step outside the banking system.
Black Market Rate Today
Bureau de Change operators in Lagos and Abuja quoted the dollar between ₦1,408 and ₦1,420 today. Most dealers settled around ₦1,415 for a sale. That marks a slight rise from Thursday’s rate.
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The pound and the euro also moved higher on the street. Traders linked the shift to steady demand from travelers and importers. However, dealers say supply has improved compared to last month.
Today’s Currency Table
| Currency | Official CBN Rate (₦) | Black Market Buy (₦) | Black Market Sell (₦) |
|---|---|---|---|
| US Dollar (USD) | 1,366.73 | 1,408.00 | 1,419.50 |
| British Pound (GBP) | 1,816.40 | 1,880.00 | 1,922.00 |
| Euro (EUR) | 1,571.20 | 1,582.00 | 1,618.00 |
| Canadian Dollar (CAD) | 995.00 | 1,010.00 | 1,040.00 |
| Chinese Yuan (CNY) | 190.50 | 203.00 | 208.50 |
| Ghanaian Cedi (GHS) | 88.00 | 90.00 | 95.00 |
| South African Rand (ZAR) | 76.50 | 78.00 | 81.00 |
| CFA Franc (XAF) | 2.08 | 2,150.00* | 2,180.00* |
*XAF rate shown per 1,000 CFA Francs, as commonly quoted by dealers. Black market rates come from Bureau de Change operators and online forex trackers. Rates shift often, so always confirm with a trusted dealer before you exchange money.
Why Two Rates Exist
You may wonder why Nigeria has two different rates at all. The answer comes down to supply. The CBN controls how much foreign currency flows through official banks.
When demand rises past that supply, people turn to the parallel market instead. As a result, the black market rate usually sits higher than the official rate. That said, the gap has narrowed this year. Analysts credit stronger foreign reserves and better liquidity management at the apex bank.
What This Means for You
If you are sending money home, paying school fees abroad, or planning travel, small rate shifts add up fast. Therefore, always check the rate right before you transact, not the day before.
Also, deal only with a verified Bureau de Change operator. Street corner exchanges carry real risk. Quoted rates can shift within hours, and unlicensed dealers offer no protection if something goes wrong.
Rates are sourced from CBN data and open market aggregators as of July 31, 2026. Black market figures reflect informal trading and can vary by location and dealer. This report is for information only and is not financial advice.
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