Dollar to Naira Black Market Rate Today - Friday, 21 August 2026

The naira held its ground on Friday, 21 August 2026, with the dollar to naira exchange rate quoted at ₦1,400.81 to buy and ₦1,408.39 to sell at the parallel market, reflecting a modest 0.10% improvement against the previous day's close.

After a period of incremental pressure that saw the naira cede ground across several sessions, Friday's marginal stabilisation offers a cautious signal that selling momentum may be easing. The movement, while small, is significant in the context of the recent trend traders and currency watchers have been monitoring whether the naira could find a floor after days of gradual depreciation against the greenback. A 0.10% day-on-day recovery, however slim, suggests the parallel market is entering a consolidation phase rather than a continued slide.

The spread between the black market rates and the Central Bank of Nigeria's official window remains a critical talking point. With the CBN official rate sitting at ₦1,347.50 per dollar, the gap between the official and parallel markets stands at roughly ₦61 on the buy side, a spread that continues to reflect lingering structural imbalances in foreign exchange supply and demand. Analysts note that until this premium narrows meaningfully, businesses and individuals reliant on parallel market access will continue to absorb elevated costs.

Cross-currency rates paint a similarly steady picture. Sterling traded at ₦1,888.07 to buy and ₦1,912.74 to sell, with readers able to track updated figures on the pounds to naira page. The euro, meanwhile, was quoted at ₦1,585.64 on the buy side and ₦1,605.33 on the sell side, movements consistent with broader dollar strength playing through to naira-denominated cross rates.

Underlying demand pressures including import financing needs, school fees remittances, and end-of-month corporate dollar demand have kept the market from staging any sharp naira recovery. Forex supply from diaspora remittances and oil receipts has provided partial relief but has not been sufficient to dramatically shift the balance.