- Dollar To Naira Exchange Rate Today, January 17, 2026
- Official CBN rate trades between ₦1416 and ₦1420
- Wide gap persists between official and parallel market rates
The naira remained under pressure against the United States dollar on Friday, January 17, 2026, as demand for foreign exchange continued to outstrip supply across official and unofficial markets.
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EKO HOT BLOG reports that traders in the parallel market said dollar demand stayed strong for imports, school fees, travel and online payments, while limited inflows kept the naira weak. Despite ongoing reforms by the Central Bank of Nigeria, the gap between the official and black market rates remains wide.
Below is the current exchange rate for the dollar to naira as of today.
| Dollar to Naira (USD to NGN) | Rate |
|---|---|
| Black Market Buying Rate | ₦1480 |
| Black Market Selling Rate | ₦1500 |
| CBN Highest Rate | ₦1420 |
| CBN Lowest Rate | ₦1416 |
At the black market, the dollar is selling at ₦1500, while buyers are offering ₦1480 per dollar. This reflects sustained pressure on the naira due to unmet forex demand from businesses and individuals.
At the official market, data from the Central Bank of Nigeria shows the dollar traded between ₦1416 and ₦1420. The official rate remains significantly lower than the parallel market, a situation analysts say continues to encourage arbitrage and speculative trading.
Market watchers note that unless dollar inflows improve through exports, foreign investment and remittances, the naira may continue to face volatility in the coming weeks. Many businesses are already adjusting prices to reflect the high cost of foreign exchange, with consumers bearing much of the impact.
Financial experts advise Nigerians to monitor exchange rate movements closely, especially those involved in import dependent businesses, international transactions and foreign payments, as daily fluctuations remain likely.
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