The Nigerian naira traded at different rates against the United States dollar on Sunday, August 30, 2026, with a gap between the official foreign exchange market and the parallel market.
Available exchange rate data showed that the dollar was trading at about ₦1,348 per US dollar at the official/mid-market level.
In the parallel market, commonly known as the black market, the dollar was being exchanged at approximately ₦1,410.
This means that the difference between the official and parallel market rates stood at about ₦62 per dollar.
At the official rate of ₦1,348/$1, $100 would be equivalent to about ₦134,800, while $1,000 would be worth approximately ₦1.348 million.
At the parallel market rate of ₦1,410/$1, $100 would exchange for about ₦141,000, while $1,000 would be approximately ₦1.41 million.
The naira-dollar exchange rate remains closely watched by businesses, importers, travellers and consumers because movements in the value of the naira can affect the prices of imported goods and services.
Since August 30 falls on a Sunday, official market figures may reflect the most recent trading data from the previous business day.
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