- Dollar to Naira Rate for Today 23 January 2026
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Naira shows relative stability in early 2026 forex markets.
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Rate variations persist between official and parallel markets.
Market watchers say the Nigerian naira continues to trade around established ranges in both official and parallel foreign exchange windows, reflecting broader economic pressures and Central Bank of Nigeria (CBN) policies.
| Market | Approximate Buying Rate (₦) | Approximate Selling Rate (₦) |
|---|---|---|
| Official CBN Rate | ₦1,430* | ₦1,430* |
| Black Market / Parallel | ₦1,480* | ₦1,500* |
*Estimated based on the most recent available forex data in January 2026 and market commentary. Exact rates may vary by location and bureau de change.
Market Overview
The exchange rate has remained relatively steady in early 2026, with both official and parallel markets showing limited movement in recent weeks. According to forex updates, the official rate stood near ₦1,435 per dollar, while the black market rate hovered around ₦1,480 per dollar at the start of January.
The gap between the official and black market rates continues to reflect differences in demand, supply and access to foreign exchange liquidity. Bureau de Change operators in major cities like Lagos and Abuja usually quote slightly higher parallel market rates than those seen at official interbank windows.
Economists say these dynamics are influenced by ongoing macroeconomic conditions, including foreign reserve levels, inflation trends and policy measures by the Central Bank of Nigeria aimed at maintaining relative currency stability.
