- Dollar To Naira Exchange Rate Today, April 16th, 2026
- Official rate remains stable between ₦1341 and ₦1350
- FX gap highlights liquidity issues and structural market challenges
The Naira maintained a mixed performance against the United States Dollar on Thursday, April 16, 2026, across both the parallel market and official foreign exchange window.\
EDITOR’S PICKS
- JAMB Delists 23 CBT Centres, Warns 89 After Mock UTME Review
- NASA Astronauts Return to Earth After First Human Trip to the Moon in 50 Years
- INEC Shifts Nationwide Voter Revalidation Until After 2027 General Election
EKO HOT BLOG reports that at the black market, also known as the parallel market, the Naira traded at a selling rate of ₦1415 per dollar and a buying rate of ₦1395. This reflects continued pressure on the local currency as demand for foreign exchange remains high among importers and businesses.
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Selling Rate | ₦1415 |
| Buying Rate | ₦1395 |
At the official market regulated by the Central Bank of Nigeria (CBN), the exchange rate showed relative stability compared to the parallel market.
| Dollar to Naira (USD to NGN) | CBN Rate Today |
|---|---|
| Highest Rate | ₦1350 |
| Lowest Rate | ₦1341 |
Data from the official window indicates that the Naira traded within a range of ₦1341 to ₦1350 per dollar, highlighting a narrower band compared to the black market.
The gap between the official and parallel market rates continues to reflect underlying foreign exchange constraints, limited dollar liquidity, and persistent demand pressures in the Nigerian economy.
Economic analysts note that fluctuations in the exchange rate are influenced by factors such as foreign reserves, crude oil earnings, and monetary policy direction from the apex bank.
The Central Bank has maintained efforts to stabilise the currency through policy interventions, but the disparity between both markets suggests ongoing structural challenges in Nigeria’s foreign exchange system.
FURTHER READING
- APC Youths in Epe Endorse Tobun, Wale Raji, Signal Strong Grassroots Mobilisation
- 2027: Oyo APC Guber Aspirants, Alli, Folarin Meet Tinubu In Lagos
- Man Arrested for Alleged N15m Revenge Theft After Losing Job
