Dollar to Naira Exchange Rate Today, January 16, 2026

Dollar to Naira Exchange Rate Today, January 16, 2026
Official CBN rate trades between ₦1418 and ₦1422
Wide gap persists between official and parallel markets

The exchange rate between the United States dollar and the Nigerian naira remains a major concern for businesses, importers, and individuals tracking currency movements across official and parallel markets.

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EKO HOT BLOG reports that as of Friday, January 16, 2026, the naira continued to trade at significantly different rates at the official Central Bank of Nigeria window and the black market, reflecting persistent pressure on foreign exchange supply.

Below is the breakdown of the dollar to naira exchange rate today across both markets.

Market	Buying Rate	Selling Rate
Black Market	₦1485	₦1500
CBN Official Window	₦1418 (Lowest)	₦1422 (Highest)

At the black market, also known as the parallel market, the dollar is bought at ₦1485 and sold at ₦1500. This rate remains considerably higher than the official benchmark, driven by strong demand for dollars amid limited supply.

At the official CBN window, the dollar traded within a narrow band, with the lowest rate recorded at ₦1418 and the highest at ₦1422. The Central Bank continues to manage rates through regulated interventions aimed at stabilising the foreign exchange market.

Currency analysts note that the persistent gap between the official and parallel market rates reflects ongoing structural challenges in Nigeria’s forex market, including import dependency and reduced dollar inflows.

Market watchers expect exchange rates to remain volatile in the short term, with movements largely influenced by oil revenue performance, external reserves, and policy signals from the Central Bank of Nigeria.