- Dollar to Naira Exchange Rate Today – March 12, 2026
- Black market rate averages about ₦1,455 per dollar today.
- Exchange gap persists due to forex demand pressures.
The exchange rate between the United States Dollar and the Nigerian Naira continues to fluctuate across the official foreign exchange market and the parallel market.
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EKO HOT BLOG reports that
As of Thursday, March 12, 2026, the Naira trades around ₦1,360 to ₦1,370 per dollar in the official Nigerian Foreign Exchange Market (NFEM) based on recent trading data and currency tracking platforms.
Meanwhile, the parallel market, commonly called the black market, shows a higher rate due to demand pressure and limited foreign currency supply.
Dollar to Naira Exchange Rate Today (March 12, 2026)
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Black Market (Parallel Market) | ₦1,440 | ₦1,455 |
| Official Market (CBN/NFEM) | ₦1,360 | ₦1,370 |
The black market rate is usually higher than the official rate because it is not regulated by the Central Bank of Nigeria and depends largely on supply and demand among currency traders.
Nigeria’s foreign exchange market has remained relatively stable in recent weeks, with the Naira trading within the ₦1,350 to ₦1,380 range in the official market, as the Central Bank continues reforms aimed at improving dollar liquidity and stabilising the currency.
However, analysts say the gap between the official and parallel market rates persists due to strong demand for foreign currency by importers, travellers, and businesses.
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