Dollar To Naira Exchange Rate Today

Dollar To Naira Exchange Rate Today – March 9, 2026
Official CBN rate trades near ₦1400.
Forex demand keeps pressure on naira.

The exchange rate between the US dollar and the Nigerian naira remains a key indicator of Nigeria’s economic stability and foreign exchange demand. As of Sunday, March 9, 2026, the naira continues to trade higher in the parallel market compared to the official foreign exchange window.

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EKO HOT BLOG reports that in the black market, also known as the parallel market, the dollar is trading around ₦1400 for buying and ₦1420 for selling. The parallel market rate is typically higher because it is determined by supply and demand among currency traders and is not regulated by the government.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Buying Rate	₦1400
Selling Rate	₦1420

Meanwhile, the official exchange rate from the Central Bank of Nigeria (CBN) remains lower than the black market rate. The naira trades within a range close to the ₦1,360–₦1,400 level in the official Nigerian Foreign Exchange Market (NFEM).

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Highest Rate	₦1404
Lowest Rate	₦1398

The gap between the official and black market exchange rates reflects persistent demand for foreign currency by importers, businesses, and individuals seeking dollars for international transactions.

Economic analysts say factors such as foreign exchange inflows, oil revenue, and monetary policy decisions by the Central Bank of Nigeria continue to influence the movement of the naira. Despite these challenges, recent data indicates that Nigeria’s foreign reserves have improved, which could help stabilize the currency market in the long term.

As Nigeria’s forex market evolves, many businesses and individuals continue to monitor daily exchange rate movements to make informed financial and investment decisions.