The Dollar-to-Naira black market rate remains a key indicator of currency sentiment among Nigerian traders and businesses. As of today, Monday, February 23, 2026, informal forex dealers in Lagos are quoting:
Buying Rate: ₦1,350 per $1
Selling Rate: ₦1,360 per $1
This tight spread suggests relative stability in the parallel market, even as formal FX conditions improve.
FX watchers say that this consistency reflects better liquidity and ongoing CBN interventions in the official forex window, which have narrowed the gap between formal and informal rates.
Investor tip: Black market rates can influence the cost of foreign travel, online subscriptions, and import prices for small businesses — making them worth tracking daily.
Buying Rate: ₦1,350 per $1
Selling Rate: ₦1,360 per $1
This tight spread suggests relative stability in the parallel market, even as formal FX conditions improve.
FX watchers say that this consistency reflects better liquidity and ongoing CBN interventions in the official forex window, which have narrowed the gap between formal and informal rates.
Investor tip: Black market rates can influence the cost of foreign travel, online subscriptions, and import prices for small businesses — making them worth tracking daily.