NGN black market rate on Oct 16, 2026: 1,352 per USD
On Friday, October 16, 2026, the US dollar traded at about 1,352 NGN on Nigeria's parallel (black) market at the close of observations. The day opened at 1,354 NGN, reached a high of 1,354 and a low of 1,349, a trading range of 5.48 NGN (0.41%).
Across 288 observations, the average price to buy dollars was 1,352 NGN and the average price received when selling dollars was 1,359 NGN. Over the session the Nigerian Naira strengthened against the dollar (-0.15% from open to close).
Official rate vs black market rate on Oct 16, 2026
The official exchange rate published for Nigeria on this date was 1,331 NGN per USD. The parallel-market close of 1,352 NGN therefore implied a premium of +1.58% over the official rate — a narrow gap, indicating the two markets were close to converged.
How Oct 16, 2026 compares
Compared with the previous observed day (Oct 15, 2026, close 1,354 NGN), the rate moved -0.15%.
One week earlier (Oct 9, 2026) the close was 1,357 NGN, so the weekly change was -0.36%.
Thirty days earlier (Sep 16, 2026) the close was 1,372 NGN, a -1.41% move over the month.
How this daily figure is produced
ETCurrency samples Nigeria's USD/NGN parallel market throughout the day from peer-to-peer stablecoin order books and, where available, community submissions. Each sample is filtered for outliers and aggregated into a single buy and sell quote; the figures above are the first, highest, lowest and last of those aggregated quotes for Oct 16, 2026 (UTC).
USDT peer-to-peer prices closely track cash dollar prices in most parallel markets but are not identical to them: payment-method fees, merchant margins and local demand for stablecoins can all add a few tenths of a percent.
Frequently asked questions
- What was the dollar to Nigerian Naira black market rate on Oct 16, 2026?
- The USD to NGN parallel market rate closed at approximately 1,352 NGN per US dollar on Friday, October 16, 2026, after trading between 1,349 and 1,354 NGN.
- How much did the NGN move against the dollar that day?
- From an open of 1,354 to a close of 1,352 NGN, the parallel rate moved -0.15% on Oct 16, 2026.
- What was the gap between the official and black market NGN rate on that date?
- The official rate was 1,331 NGN per USD versus a parallel close of 1,352 NGN, a premium of +1.58%.
- Was the NGN black market rate higher or lower than the day before?
- Lower: the previous observed close was 1,354 NGN on Oct 15, 2026, a change of -0.15%.
Figures are aggregated parallel-market observations for Nigeria in UTC and are indicative only; they are not a quote to trade. See the full USD → Nigerian Naira history or today's live rate.