- Dollar to Naira Exchange Rate Today, January 24, 2026
- Official CBN rate trades between ₦1420 and ₦1423.
- Naira remains under pressure amid strong dollar demand.
The dollar to naira exchange rate remained under pressure on Friday, January 24, 2026, as demand for foreign exchange continued to outpace supply in Nigeria’s currency market.
At the parallel market, commonly known as the black market, the naira weakened further against the United States dollar, reflecting ongoing concerns over dollar liquidity and import driven demand. Traders said activity remained high as businesses and individuals sought dollars for overseas transactions.
Meanwhile, the official exchange rate published by the Central Bank of Nigeria showed relative stability when compared with the sharp movements recorded at the black market. The gap between the official and parallel market rates continued to highlight structural challenges in the foreign exchange system.
Dollar to Naira Exchange Rate Today
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Black Market | ₦1482 | ₦1490 |
| CBN Official Rate | ₦1420 | ₦1423 |
At the black market, the dollar was bought at ₦1482 and sold at ₦1490. This represents a continued depreciation of the naira amid sustained demand pressures.
On the official market, data from the Central Bank of Nigeria showed the dollar traded within a narrow band, with a lowest rate of ₦1420 and a highest rate of ₦1423. Analysts say the stability at the official window is largely supported by regulatory controls and periodic interventions.
Market watchers note that while reforms introduced by the CBN are aimed at improving transparency and liquidity, the naira remains vulnerable to external shocks, import dependence, and limited export earnings.
As foreign exchange demand persists, businesses and consumers are expected to closely monitor both official and parallel market movements in the coming days.
