- Dollar to Naira Exchange Rate Today – 7 March 2026
The Dollar to Naira exchange rate remained a key focus for many Nigerians on Saturday, March 7, 2026, as traders and businesses monitored movements in both the official and parallel foreign exchange markets.
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EKO HOT BLOG reports that at the Lagos Parallel Market, commonly known as the black market, the United States dollar traded around ₦1435 for buying and ₦1450 for selling on the street market. Rates may vary slightly depending on location and demand among Bureau De Change operators.
Meanwhile, in the official Nigerian foreign exchange market regulated by the Central Bank of Nigeria, the naira traded around ₦1367 per dollar on average based on recent market data.
Dollar to Naira Exchange Rate Today – 7 March 2026
| Market | Buying Rate | Selling Rate |
|---|---|---|
| Black Market (Parallel Market) | ₦1435 | ₦1450 |
| Official Market (CBN/NAFEM) | ₦1361 | ₦1373 |
The difference between the official exchange rate and the black market rate continues to reflect strong demand for foreign currency in Nigeria’s informal market.
Currency analysts note that exchange rates in the parallel market fluctuate frequently due to supply shortages, import demand, and foreign exchange inflows. Because the black market is not officially regulated, rates can differ across cities and traders.
The Central Bank of Nigeria does not recognise the parallel market and has consistently advised individuals and businesses seeking foreign exchange to use banks and official channels instead.
In recent months, the naira has traded within the ₦1,330 to ₦1,490 range against the US dollar as economic reforms and foreign exchange policies continue to influence market stability.
Traders and businesses are advised to confirm rates before carrying out foreign exchange transactions, as prices may change several times within a single trading day.
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