Abayomi Susan
The Nigerian naira traded at different rates against the United States dollar in the parallel foreign exchange market today Saturday, August 15, 2026, amid continued movements in the currency market.
The dollar was exchanged at approximately ₦1,410 per dollar for buying and ₦1,425 for selling at the parallel market.
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Parallel Market | ₦1,410 | ₦1,425 |
The difference between the buying and selling rates reflects the margin maintained by currency dealers in the parallel market.
However, black-market exchange rates are not fixed and may vary depending on location, dealer, demand and supply, as well as prevailing market conditions. Rates can also change several times within the same day.
The official foreign exchange market recorded a lower dollar-to-naira rate during the period, with the official rate trading around the ₦1,360 range.
The movement of the naira against the dollar remains important to businesses, importers, travellers and individuals who require foreign currency for international transactions.
Changes in the exchange rate can also affect the cost of imported goods and services, making developments in the foreign exchange market an important indicator for consumers and businesses.
The prevailing exchange rate may also influence the cost of international payments, school fees, travel expenses and other dollar-denominated transactions, particularly for Nigerians who depend on foreign currency for these purposes.
Individuals and businesses are advised to confirm the prevailing rate before conducting any foreign exchange transaction, as the quoted parallel-market rate may differ from the actual rate available to them.
The rates stated in this report are indicative market figures and should not be regarded as an official exchange rate set by the Central Bank of Nigeria.
