The naira records marginal movement at the official market as parallel-market rates remain relatively stable.

The Nigerian naira is trading at different rates against the United States dollar across the official foreign exchange market and the parallel market on Thursday, September 17, 2026.

The latest available data puts the dollar at approximately ₦1,330.31 at the Nigerian Foreign Exchange Market (NFEM).

The Central Bank of Nigeria (CBN) describes the NFEM rate as the volume-weighted average exchange rate for the day.

In the parallel market, the dollar is quoted at approximately ₦1,380 for buying and ₦1,385 for selling, based on the latest available rates.

Wednesday’s Exchange Rate

On Wednesday, September 16, the naira traded at ₦1,329.86 per dollar at the NFEM, compared with ₦1,329.15 on Tuesday.

The movement represented a marginal depreciation of 71 kobo.

Meanwhile, the parallel-market rate remained around ₦1,385 per dollar.

Dollar-To-Naira Conversion

At the parallel-market selling rate of ₦1,385:

• $100 costs approximately ₦138,500.
• $500 costs approximately ₦692,500.
• $1,000 costs approximately ₦1.385 million.

At the buying rate of ₦1,380:

• $100 yields approximately ₦138,000.
• $500 yields approximately ₦690,000.
• $1,000 yields approximately ₦1.38 million.

Parallel-market rates may vary depending on the dealer, location, transaction size and market demand. Rates can also change throughout the day.

The naira’s performance remains important for importers, businesses, international travellers, students paying overseas tuition and individuals making dollar-denominated payments.

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The Nigerian naira extended its losing streak on Tuesday, closing at ₦1,383 per dollar amid renewed pressure in the foreign exchange market and a continued decline in external reserves.

Data from the Central Bank of Nigeria (CBN) shows the currency weakened from ₦1,369/$ recorded a day earlier, reflecting sustained volatility in the FX market.

Naira Weakens Further

Intraday trading saw the naira fluctuate between ₦1,367.5/$ and ₦1,385/$, with a simple average rate of ₦1,380.19/$.

Tuesday’s close marks the weakest level since early April and highlights a steady depreciation trend in recent sessions. On a week-on-week basis, the currency has also weakened compared to last week’s closing rate of ₦1,350.99/$.

External Reserves Continue to Drop

Pressure on the naira is being compounded by a decline in Nigeria’s external reserves.

CBN data shows reserves fell to $48.38 billion as of April 27, 2026, down from $48.51 billion recorded on April 21 — a drop of approximately $124 million within one week.

The decline reflects ongoing FX interventions by the apex bank as well as external debt obligations.

Global Factors Add Pressure

The naira’s performance is also being influenced by global market conditions.

The US dollar remained firm ahead of a policy decision by the Federal Reserve, with investors seeking safe-haven assets amid geopolitical tensions in the Middle East.

The dollar index hovered around 98.57, while other major currencies such as the euro and pound traded within narrow ranges. The Japanese yen also remained weak near key psychological levels.

FX Market Struggles Persist

Nigeria’s foreign exchange market has remained under pressure despite intermittent stabilisation efforts by monetary authorities.

Persistent demand for foreign currency, limited inflows, and continued reserve drawdowns have combined to weigh on the naira.

Market sources indicate that restrictions on Bureau De Change (BDC) operators’ access to the official FX window remain in place, limiting liquidity in the retail segment.

CBN Maintains Optimistic Outlook

Despite the recent decline, CBN Governor Olayemi Cardoso has downplayed concerns, stating that the drop in reserves should not trigger panic.

The apex bank maintains that external reserves could rise to $51 billion by the end of 2026 as part of its broader macroeconomic stabilisation strategy.

Outlook Remains Fragile

The simultaneous weakening of the naira and decline in reserves underscores ongoing fragility in Nigeria’s FX fundamentals.

While global dollar strength continues to exert external pressure, domestic challenges such as supply constraints and demand imbalance remain key drivers of currency volatility.

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The Nigerian Naira maintained relative stability against the US Dollar in early trading on Wednesday, April 15, 2026, as market participants weighed new economic data against continued Central Bank interventions.

In the official foreign exchange market, the Naira opened at ₦1,352.25 per Dollar, briefly reaching ₦1,352.50 before settling near the opening level. This stability reflects the monetary authorities’ efforts to manage liquidity and minimize sudden swings in the official exchange segment.

Meanwhile, in the parallel market, often referred to as the black market, the Dollar continues to trade at a premium due to high demand for retail transactions and small-scale imports, ranging between ₦1,460 and ₦1,485 in major hubs such as Lagos, Abuja, and Kano.

Financial analysts attribute the steadiness to improved foreign reserves and strategic interest rate adjustments, while cautioning that persistent Dollar demand for international travel, education, and energy imports could influence rates in the coming weeks.

As of 7:05 AM WAT, trading activity has been largely cautious, with investors adopting a “wait-and-see” approach, looking to the mid-day session for clearer signals on the Naira’s performance.

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The Nigerian currency appreciated to N1,365 per dollar on Thursday, gaining slightly against the U.S. dollar amid a broader decline in the global value of the greenback.

Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened from N1,369/$ recorded on Wednesday, reflecting improved investor sentiment in global currency markets.

Global Dollar Weakness Drives Gains

The naira’s appreciation comes as the U.S. dollar heads for its sharpest weekly decline since January, driven by easing geopolitical tensions and renewed optimism over a ceasefire in the Gulf region.

Market analysts attribute the shift to expectations that oil shipments will resume through key global routes, particularly the Strait of Hormuz, following the ceasefire agreement.

Further direction in currency markets is expected to depend on ongoing diplomatic engagements between the United States and Iran.

Market Data Signals Currency Shift

Recent market data highlights a broad-based weakening of the U.S. dollar:

• The U.S. Dollar Index declined by 1.3 per cent this week
• The naira traded within a range of N1,351.5/$ to N1,365/$, with an average rate of N1,359.9/$
• Nigeria’s external reserves fell to $48.89 billion, down from $49.18 billion earlier in April

The weakening dollar reflects a shift away from safe-haven assets as geopolitical tensions begin to ease.

Major Currencies Gain Ground

Other global currencies also strengthened against the dollar:

• The euro rose to $1.1690
• The British pound gained 1.8 per cent to $1.3424
• The Chinese yuan appreciated to 6.83 per dollar in offshore trading
• The Australian and New Zealand dollars recorded weekly gains of nearly 3 per cent

These movements signal renewed investor confidence and a transition toward risk-sensitive assets.

Geopolitical Tensions Ease

The recent improvement in global currency markets follows weeks of heightened geopolitical uncertainty.

In March, tensions linked to the Middle East crisis drove investors toward the dollar as a safe-haven asset, strengthening the currency significantly.

However, the ceasefire agreement has led to a reversal of these positions, triggering a decline in the dollar’s value.

Despite the progress, uncertainties remain, particularly around shipping activity in the Strait of Hormuz, which has yet to return to normal levels.

Implications for Nigeria

For Nigeria, a weaker dollar could provide short-term relief for the naira, especially given the country’s dependence on oil exports and external reserves.

However, the continued decline in foreign reserves may limit the sustainability of the currency’s gains if not supported by stronger inflows.

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The naira recorded mixed performance across foreign exchange markets on Tuesday, appreciating in the parallel market while weakening at the official window, as the gap between both rates narrowed significantly.

At the parallel market, the local currency strengthened to N1,396 per dollar, improving from N1,400 per dollar recorded last Thursday, indicating a modest recovery driven by improved street-level dollar supply.

However, at the official Nigerian Foreign Exchange Market, the naira depreciated to N1,389 per dollar, reflecting continued pressure within the formal segment of the market.

Data released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate weakened from N1,382.75 per dollar last Thursday, representing a depreciation of N6.25 for the currency.

Despite the divergence in performance, the spread between the parallel and official exchange rates narrowed sharply to N5 per dollar, compared to N17.25 recorded in the previous week, suggesting improved alignment across the two markets.

Market data also indicated a slowdown in trading activity at the interbank window, with the number of deals dropping to 71, an 18 per cent decline from 87 transactions recorded in the previous trading session.

Analysts say the narrowing gap between both markets reflects ongoing efforts by monetary authorities to unify exchange rates and improve liquidity, although short-term volatility remains a key feature of the system.

They further note that sustained convergence will depend on consistent foreign exchange inflows, effective policy implementation, and continued confidence among investors and market participants.

The development underscores the delicate balancing act facing regulators as they attempt to stabilise the naira while deepening reforms in Nigeria’s foreign exchange market.

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The Nigerian currency recorded a marginal decline at the official foreign exchange market on Tuesday, reflecting continued fluctuations within a broadly stable range.

Data released by the Central Bank of Nigeria (CBN) showed that the naira depreciated to N1,386.65 per dollar, representing a loss of N5.86 or 0.4 per cent compared to N1,380.79 recorded before the Easter break on April 2.

The latest movement also follows a slight dip recorded earlier in the month, when the currency traded at N1,378.70 per dollar on April 1, indicating a marginal 0.1 per cent depreciation.

Despite the recent weakening, analysts maintain a cautiously optimistic outlook for the naira, pointing to ongoing monetary and foreign exchange reforms by the apex bank aimed at improving market stability.

The Centre for the Promotion of Private Enterprise (CPPE) noted that relative stability of the currency in the first quarter of 2026 has helped boost business confidence, particularly among investors navigating Nigeria’s volatile economic environment.

According to the CPPE, the naira has largely traded within a band of N1,340 to N1,430 per dollar during the period, reflecting a more predictable exchange rate trend compared to previous volatility.

The think tank attributed this stability to improved foreign exchange liquidity, supported by stronger oil earnings and a steady rise in external reserves, which have surpassed the $50 billion mark.

Economic analysts say while short-term fluctuations are expected in a liberalised foreign exchange market, the broader outlook will depend on sustained inflows, effective policy coordination, and global oil price dynamics.

The development highlights the delicate balance facing monetary authorities as they seek to stabilise the currency while supporting economic growth in an environment shaped by both domestic reforms and external pressures.

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The Nigerian currency, the naira, has depreciated to ₦1,415 per dollar in the parallel market, reflecting sustained pressure in the country’s foreign exchange space.

Findings from currency traders indicate that the naira weakened from around ₦1,400/$ to ₦1,415/$, as demand for the US dollar continued to outpace supply in the informal market segment.

FX Pressure Persists

The depreciation highlights ongoing challenges in Nigeria’s forex market, where limited dollar liquidity and rising demand from importers, travelers, and businesses continue to drive exchange rate volatility.

The parallel market, often more reactive than the official window, remains sensitive to short-term supply gaps and speculative demand, leading to frequent fluctuations in the naira’s value.

Gap Between Official and Parallel Markets

Despite relative stability in the official foreign exchange window, the gap between both markets persists, raising concerns among analysts about arbitrage opportunities and market inefficiencies.

Economic watchers note that the disparity underscores the need for stronger FX inflows, improved investor confidence, and sustained monetary policy coordination.

Outlook

Experts say the naira’s performance will largely depend on the country’s ability to boost foreign exchange earnings, attract investment, and maintain consistent reforms in the FX market.

Until then, the currency may continue to face intermittent pressure, particularly in the parallel market where supply remains constrained.

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The Nigerian naira maintained a relatively stable performance against the United States dollar on Friday, March 27, 2026, as trading activity continued in the Nigerian Foreign Exchange Market (NFEM).

In the official market, the naira traded around the ₦1,390–₦1,400 per dollar range, reflecting only mild fluctuations compared to earlier sessions this month. Recent data indicates that the currency has largely hovered near the ₦1,400/$ level in March, suggesting a period of controlled volatility driven by ongoing market reforms and liquidity management. 

Market participants reported that the exchange rate remains influenced by the Central Bank of Nigeria’s “willing-buyer, willing-seller” framework, which continues to support price discovery and reduce sharp swings in the official window. 

Parallel Market Movement

At the parallel (black) market, the naira traded slightly above the official rate, with the dollar exchanging within a similar band of roughly ₦1,400/$, depending on location and demand pressures. 

The narrow gap between the official and parallel markets highlights improved rate convergence, a trend analysts attribute to increased transparency and better FX liquidity in recent months.

Market Outlook

Financial analysts say the naira’s current stability is being supported by consistent interventions and structural adjustments by the Central Bank, including reforms aimed at boosting dollar inflows and investor confidence.

However, demand for foreign exchange—driven by imports, travel, and offshore obligations—continues to exert pressure on the local currency. Experts warn that sustaining stability will depend on stronger FX supply, improved exports, and broader economic reforms.

Overall, the naira remains within a predictable range, offering short-term relief to businesses and individuals navigating Nigeria’s volatile foreign exchange environment.

The post Dollar to Naira Exchange Rate Today, March 27, 2026 appeared first on Housing TV Africa.

The Nigerian currency, the , appreciated to N1,403 per dollar in the parallel market, strengthening from N1,408 recorded earlier in the week.

At the official window, the naira also improved to N1,345 per dollar in the Nigerian Foreign Exchange Market (NFEM), reflecting stronger performance across both segments.

Data from the (CBN) showed that the indicative exchange rate dropped from N1,355 to N1,345 per dollar, indicating a N10 appreciation.

Gap between markets narrows

As a result of the gains, the gap between the parallel market and the official exchange rate narrowed to N48 per dollar, down from N53 recorded previously.

Positive signal for forex stability

The appreciation is seen as a positive signal for Nigeria’s foreign exchange market, amid ongoing efforts by the CBN to stabilise the currency and improve liquidity.

Analysts say sustained gains will depend on continued forex supply, policy consistency, and improved investor confidence.

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Escalating tensions involving Israel, Iran and the United States have pushed global oil prices close to the $80 per barrel mark, triggering renewed debate over what the rally means for Nigeria’s fragile economy.

Brent crude surged from $73 per barrel on Friday to $79.49 on Sunday, before easing slightly to $78.19 early Monday. By mid-afternoon trading, the global benchmark hovered around $79 per barrel as markets priced in heightened geopolitical risks.

What’s Driving the Oil Price Surge?

The rally followed fresh hostilities between Israel and Iran, including a reported fire incident at Saudi Aramco’s Ras Tanura facility caused by debris from intercepted drones.

The developments raised concerns about the security of energy infrastructure in the Gulf region — a critical oil-exporting corridor — increasing risk premiums in global energy markets.

Nigeria’s Mixed Blessing: Higher Oil, Weaker Naira

While higher crude prices typically improve Nigeria’s fiscal outlook as Africa’s largest oil producer, experts caution that structural constraints may limit immediate gains.

On the parallel market, the naira weakened to N1,375/$1, reflecting continued currency volatility despite monetary tightening measures.

Analysts warn that:

• Nigeria’s crude output remains around 1.5 million barrels per day, below its estimated 2 million bpd capacity.

• Under-investment, pipeline vandalism and crude theft continue to constrain production.

• A significant portion of Nigeria’s crude is tied to long-term supply contracts priced below spot market levels.

These factors could prevent the full benefit of Brent’s rally from reaching government revenues.

SBM Intelligence Warns FG Against “Wait-and-See” Approach

In a new report titled “Epic Fury, Enduring Consequences: The Iran Strikes, Global Shockwaves and Africa’s Strategic Reckoning,” SBM Intelligence urged the Federal Government to adopt a proactive strategy.

The advisory firm warned that expectations of sudden fiscal windfalls may be misplaced, noting that much of the short-term upside could accrue to trading partners rather than directly boosting federation revenues.

SBM also advised Nigeria to strengthen economic intelligence capacity and modernise consular services to mitigate geopolitical spillovers.

Inflation Risk Looms for Households, Businesses

Despite being a crude exporter, Nigeria remains heavily dependent on imported refined petroleum products.

With fuel subsidies removed, domestic petrol prices are now directly exposed to global crude movements. Analysts say:

• Higher Brent prices could translate into increased transport and logistics costs.

• Food and consumer prices may rise further.

• Businesses may face rising operational expenses.

Investment firm Afrinvest noted that while higher oil prices could support government revenue, households and businesses should prepare for broader price pressures in the coming months.

Foreign Policy Balancing Act Under Pressure

The geopolitical crisis may also test Nigeria’s diplomatic posture. Successive administrations have maintained balanced relations with Israel, Gulf states and Iran, avoiding direct entanglement in Middle Eastern rivalries.

However, analysts say prolonged conflict could force Nigeria to reassess its strategic positioning, particularly if disruptions affect global energy flows or remittance corridors.

Outlook: Fiscal Relief or Inflation Shock?

With Brent trading near $80 per barrel and the naira under pressure, Nigeria faces a delicate balancing act.

Stronger oil prices may boost revenue projections, but weak production capacity, FX volatility and import dependence could dilute the benefits.

For households and businesses, the coming months may bring renewed inflationary pressures unless global tensions ease.

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