The dollar to naira black market exchange rate remained stable on Wednesday, January 21, 2026, extending a calm trend that has held across the parallel foreign exchange market since last week.
Market observations by Okay News show that the US dollar continues to trade between ₦1,480 and ₦1,495, a range that has largely remained unchanged over several trading sessions.
Unlike the sharp swings recorded earlier in the year, currency dealers say the market has entered a period of relative balance, driven by moderated demand and cautious trading activity.
This stability comes despite sustained public interest in the naira to dollar exchange rate today, with search queries such as “dollar to naira today,” “how much is dollar to naira,” and “black market dollar to naira rate” ranking among the most searched financial terms over the past 24 hours.
Okay News reports that traders in major hubs including Lagos, Abuja, and Port Harcourt confirmed that buying rates have consistently hovered around ₦1,480, while selling prices have remained capped near ₦1,495 since last week, with only minor intraday variations.
The steadiness in the dollar rate to naira today is being attributed to improved short-term dollar availability within the informal market and reduced speculative pressure, as many buyers appear to be adopting a wait-and-see approach.
Beyond the US dollar, other major foreign currencies have also maintained stable positions against the naira in the black market.
The euro to naira black market rate continues to trade between ₦1,690 and ₦1,720, a range that dealers say has held firm since last week. Demand for the euro remains steady, largely linked to education-related payments, travel expenses, and trade settlements with European partners. Searches for “naira to euro exchange rate” have increased, reflecting broader interest beyond dollar conversions.
Similarly, the British pound to naira black market rate has shown little movement, exchanging between ₦1,980 and ₦2,020. Currency dealers note that the pound has maintained this range for several days, supported by consistent but non-aggressive demand from individuals and businesses with financial exposure to the United Kingdom.
The Canadian dollar to naira exchange rate has also remained stable, trading between ₦1,072 and ₦1,083 in the parallel market. This reflects ongoing demand tied to migration expenses, tuition payments, and trade-related transactions, without the volatility seen earlier in the year.
While the black market remains a critical reference point for many Nigerians, the gap between the unofficial rates and the official exchange rate published by the Central Bank of Nigeria continues to shape market behaviour. The divergence reinforces reliance on the parallel market, particularly for users unable to access foreign exchange through official channels.
Financial analysts say the recent stability in the black market dollar to naira rate suggests a temporary equilibrium rather than a structural shift. They caution that any disruption to dollar supply or sudden surge in demand could quickly alter the current balance.
Okay News reports that traders expect the naira to remain within its current range in the near term, barring major policy announcements or external economic shocks.
As always, market participants are advised to verify rates before completing transactions, as black market prices may still vary slightly by location and transaction size, even during periods of relative calm.
Black Market Exchange Rates on January 21, 2026
USD/NGN: ₦1,480 buying, ₦1,495 selling
EUR/NGN: ₦1,690 buying, ₦1,720 selling
GBP/NGN: ₦1,980 buying, ₦2,020 selling
CAD/NGN: ₦1,072 buying, ₦1,083 selling
Okay News will continue to provide daily updates on the dollar to naira black market rate, tracking both short-term stability and emerging shifts across major foreign currencies impacting Nigeria’s economy.
