- Dollar To Naira Exchange Rate Today – March 8, 2026
- Naira trades between ₦1398 and ₦1404 officially.
- Exchange rate pressure persists in forex market.
The exchange rate between the US dollar and the Nigerian naira remained volatile on Saturday, March 8, 2026, reflecting continued pressure on the country’s foreign exchange market.
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EKO HOT BLOG reports that in the parallel market, commonly referred to as the black market, the dollar traded higher as demand for foreign currency persisted among importers and businesses seeking access to hard currency.
Market checks showed that the dollar was bought at ₦1400 and sold at ₦1420 on Saturday. The black market remains a widely used source of foreign exchange for many Nigerians due to limited supply through official channels.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Buying Rate | ₦1400 |
| Selling Rate | ₦1420 |
At the official market, the Central Bank of Nigeria maintained relatively lower rates compared to the parallel market. Data from the official window indicated that the naira traded within a narrow band during the day.
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
|---|---|
| Highest Rate | ₦1404 |
| Lowest Rate | ₦1398 |
The gap between the official and parallel market rates highlights ongoing challenges in Nigeria’s foreign exchange market. Analysts say factors such as foreign exchange demand, oil revenue inflows, and monetary policies continue to influence the movement of the naira against the dollar.
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