Dollar to Naira Black Market Rate Today — Friday, 31 July 2026

The naira held its ground on Friday, 31 July 2026, as the black market rates settled at ₦1,407.64 to buy and ₦1,412.88 to sell one US dollar, a marginal 0.10 percent dip in the parallel rate compared to Thursday's close.

For the millions of Nigerian families waiting on remittances from relatives abroad, today's figures carry a familiar mix of cautious relief and watchful patience. A transfer of $1,000 sent home through an informal channel would yield approximately ₦1,407,640 at the buying rate. For many households, covers school fees, rent, and essential provisions for the month ahead. The fact that the naira has not weakened further into the weekend is a small but meaningful signal for recipients who have been tracking the market closely before instructing their overseas family members to send funds.

The gap between the streets and the banking system remains significant. The Central Bank of Nigeria's official window is quoting the dollar at ₦1,368.5, placing the premium between the CBN official rate and the parallel market at roughly ₦39 to ₦44 per dollar depending on the side of the trade. That spread means a $500 remittance worth about ₦684,250 at the official window could fetch closer to ₦703,820 through informal channels. A difference that continues to influence how diaspora senders route their transfers, even as regulators encourage use of licensed operators.

Sterling and euro movements are equally relevant for the large Nigerian communities based in the United Kingdom and across Europe. The pounds to naira exchange on the parallel market stood at ₦1,893.63 buying and ₦1,913.97 selling today, while those consulting the euro to naira rate will find values of ₦1,597.62 buying and ₦1,612.90 selling. Diaspora senders in London or Frankfurt converting local earnings before remitting home will want to factor these figures into any timing decisions they make over the weekend.