Dollar To Naira Rate Today Wednesday, January 28, 2026

Dollar To Naira Rate Today Wednesday, January 28, 2026
In the black market, 1 USD is around ₦1,482–₦1,490.
Official and parallel rates differ due to demand and supply dynamics.

The exchange rate between the United States dollar and Nigerian naira continues to reflect the ongoing foreign exchange market dynamics in Nigeria, with differences between the official Central Bank of Nigeria (CBN) rate and the black market (parallel market) rate.

EDITOR’S PICKS

EKO HOT BLOG reports that here is the current snapshot of the dollar to naira exchange rate for today:

Market Type	Rate (₦ per USD)
Official CBN Rate	~₦1,420 – ₦1,422
Black Market Rate	~₦1,482 – ₦1,490

Official Rate: At official channels regulated by the Central Bank of Nigeria, the naira is trading in the low ₦1,400s against the dollar. These rates are typically used for bank transfers, international business payments, travel allowances, and official forex transactions.

Black Market Rate: In the parallel market, where physical cash is exchanged and demand often exceeds supply, the dollar fetches a higher naira amount. Traders and bureau de change operators quote rates near the high ₦1,400s per dollar.

The disparity between the official and black market rates remains a feature of Nigeria’s foreign exchange landscape, driven by supply constraints, demand pressures, and regulatory factors.

Why It Matters:
• Everyday transactions: Individuals and small businesses often deal with the black market rate when they need immediate cash.
• Official trades: Large or formal corporate and bank transactions typically use the official CBN rate.
• Economic impact: Fluctuations in the exchange rate affect import costs, school fees abroad, travel expenses, and inflation in the local economy.