The Nigerian naira traded at an average of ₦1,400 per United States dollar at the parallel market, popularly known as the black market, on Sunday, June 28, 2026.
Market checks showed that bureau de change operators and currency traders bought the dollar at an average rate of ₦1,385 and sold it for about ₦1,400, although rates varied slightly by location and transaction volume.
The exchange rate reflects sustained activity in the parallel foreign exchange market, where many Nigerians turn to source dollars due to limited access to foreign currency through official channels.
At the current rate, $100 exchanged for about ₦140,000, while $1,000 sold for approximately ₦1.4 million in the black market.
The official exchange rate set by the Central Bank of Nigeria usually differs from the parallel market rate, with movements largely influenced by foreign exchange supply, demand and wider economic conditions.
Currency traders noted that black market rates remain subject to daily fluctuations driven by market forces and may vary from one dealer or city to another.