Black Market Exchange Rate Today, Sunday, May 10, 2026
The Nigerian naira continues to trade under pressure in the parallel market, popularly known as the black market, as foreign currencies remain in high demand across major cities, including Lagos, Abuja, Kano and Port Harcourt.
Currency traders and Bureau De Change operators say the market remained relatively stable over the weekend despite persistent pressure on foreign exchange supply. The United States dollar, British pound, Euro, Canadian dollar and several African currencies all recorded varying rates in the unofficial market.
Dollar To Naira Exchange Rate
As of today, the United States dollar is being bought between ₦1,385 and ₦1,400 in the black market, while the selling rate ranges from ₦1,400 to ₦1,420 depending on location and transaction volume. Traders say demand for the dollar remains high due to importation needs, international school fees and overseas payments.
Market analysts noted that the naira has shown slight signs of stability compared to previous weeks following recent interventions by the Central Bank of Nigeria, CBN, in the official foreign exchange market.
Pound Sterling To Naira Exchange Rate
The British pound sterling continues to trade strongly against the naira in the parallel market. Bureau De Change operators quoted the pound at a buying rate between ₦1,840 and ₦1,860, while the selling price ranges between ₦1,880 and ₦1,900.
Currency dealers attributed the sustained strength of the pound to growing demand from Nigerians paying tuition fees and handling travel-related expenses in the United Kingdom.
Euro To Naira Exchange Rate
The Euro also maintained a strong position in the black market today. Reports from traders showed the currency exchanging at buying rates between ₦1,580 and ₦1,600, while selling prices ranged between ₦1,630 and ₦1,660.
Financial experts say the Euro has continued to attract attention among importers and business owners engaged in transactions with European countries.
Canadian Dollar, Australian Dollar And Yuan Rates
The Canadian dollar traded around ₦1,020 to ₦1,036 in the parallel market, while the Australian dollar exchanged close to ₦1,000. China’s Yuan also remained active in the market, trading around ₦204 to ₦207.
Dealers explained that growing trade relationships between Nigeria and Asian countries have increased demand for Asian currencies in recent months.
CFA Franc, South African Rand And Ghana Cedi
The West African CFA Franc and Central African CFA Franc remained active among regional traders and cross-border business operators. Market data showed CFA exchange rates hovering around ₦2,450 for bulk transactions in some parts of the country.
Meanwhile, the South African Rand traded around ₦87, while the Ghanaian Cedi also remained in demand among traders involved in regional commerce across West Africa.
Black Market Exchange Rates Today
Black Market Exchange Rates Today
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | ₦1,385 | ₦1,420 |
| British Pound (GBP) | ₦1,840 | ₦1,900 |
| Euro (EUR) | ₦1,580 | ₦1,660 |
| Canadian Dollar (CAD) | ₦1,020 | ₦1,036 |
| Australian Dollar (AUD) | ₦990 | ₦1,000 |
| Chinese Yuan (CNY) | ₦204 | ₦207 |
| South African Rand (ZAR) | ₦85 | ₦87 |
| CFA Franc (XOF/XAF) | ₦2,345 | ₦2,450 |
Traders, however, warned that exchange rates remain unstable and could change at any moment depending on demand, location and volume of transactions.
Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.
