Aboki Naira to Dollar Black Market Exchange Rate Today, 8th July 2026

As of Wednesday, July 8, 2026, the Nigerian naira maintained a relatively stable position in the black market against the US dollar, with traders buying the greenback at approximately ₦1,400 and selling it around ₦1,410.

This narrow spread reflects persistent supply constraints in the informal forex segment, even as authorities continue efforts to bolster official market liquidity.

Currency dealers in major cities like Lagos, Abuja, and Kano reported brisk activity early in the day, driven largely by importers seeking dollars for essential goods and individuals covering overseas obligations.

The parallel market rate has shown only modest fluctuations in recent sessions, hovering in this band after a period of slight appreciation earlier in the week. Market watchers attribute the resilience to increased dollar inflows from diaspora remittances and some recovery in oil export earnings, though demand from businesses remains elevated.

In contrast, the official exchange rate published by the Central Bank of Nigeria stood near ₦1,368 per dollar, highlighting the continued gap between the two markets. Economists note that this disparity continues to fuel activity in the informal sector, where rates often respond more quickly to real-time supply and demand dynamics.

Broader economic factors, including inflation trends and fiscal policies, are keeping pressure on the naira. Analysts suggest that sustained stability will depend on improved forex supply through the official window and measures to curb speculative trading.

For now, participants in the black market are adopting a cautious stance, with many predicting limited volatility in the short term unless significant external shocks emerge.

Individuals planning currency exchanges are advised to compare rates across reputable dealers and stay informed on daily movements, as conditions can shift rapidly based on local availability.