- Dollar To Naira Rate Today March 21, 2026
- Gap between official and parallel market rates remains relatively narrow
- Analysts expect continued fluctuations driven by demand and global factors
The exchange rate between the US dollar and the Nigerian naira remained relatively stable on Saturday, March 21, 2026, across both the official and parallel markets, amid ongoing efforts by the Central Bank of Nigeria to stabilise the currency.
At the official market, the naira traded around ₦1,355 to ₦1,360 per dollar, based on recent data from the Nigerian Foreign Exchange Market. Meanwhile, in the parallel market, also known as the black market, the dollar exchanged at an average of ₦1,400 to ₦1,430, depending on location and demand.
| Market Type | Buying Rate (₦) | Selling Rate (₦) |
|---|---|---|
| Official Market | 1,350 | 1,360 |
| Black Market | 1,400 | 1,430 |
The slight gap between both markets reflects persistent demand for foreign exchange and limited supply in official channels. Analysts say the spread has narrowed compared to previous months due to improved liquidity and policy adjustments.
Recent trends show the naira maintaining relative stability, trading within the ₦1,350 to ₦1,400 range over the past week.
This comes as increased foreign inflows and monetary policies continue to support the currency.
However, fluctuations are still expected as global oil prices, foreign reserves, and economic reforms continue to influence the exchange rate.
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