The Nigerian naira depreciated against the US dollar in the unofficial parallel market on Thursday, January 2, 2026, trading at ₦1,490 to the dollar compared to ₦1,480 the previous day.
Important Notice: Exchange rates in the parallel market fluctuate throughout the day based on dollar availability and demand. Rates can shift significantly within hours of any transaction.
Market data shows the informal currency market, commonly referenced by traders, recorded a buying rate of ₦1,490 per dollar and a selling rate of ₦1,480 in Lagos on January 2, 2026.
The Central Bank of Nigeria (CBN) does not recognize parallel market transactions and has instructed individuals seeking foreign exchange to conduct business through authorized banks and financial institutions.
Parallel Market Rates (January 2, 2026)
- Buying Rate: ₦1,490/$1
- Selling Rate: ₦1,480/$1
Official CBN Rates (January 2, 2026)
- Highest Rate: ₦1,434/$1
- Lowest Rate: ₦1,435/$1
Note: Parallel market rates are unofficial and vary by location and time of day based on supply and demand dynamics.
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