Nigeria Today's Dollar to Naira Rate: Dollar → Naira Snapshot Rate for 26 March 2026

Key points:
Official CBN Rate: ₦1,391 / USD
Black-Market Rate: [Not specified]
Drivers: Global dollar strength as the US dollar index rose 0.44% to 99.62 amid inflation concerns; Rising US import prices (the largest increase in nearly four years), reinforcing expectations of tighter monetary policy; Interbank turnover declining to $55.7 million from $83.4 million; External reserves at $49.57 billion.
Top Tools: CBN Forex Portal, Aboki Fx

The Naira depreciated to ₦1,391/$ on Wednesday, pressured by a strengthening US dollar amid global inflation concerns and geopolitical uncertainty. Interbank turnover declined significantly to $55.7 million, reflecting lower liquidity in the FX market as emerging market currencies faced broader headwinds.

FAQ

• What's the gap between CBN & black-market rates? The article focuses on official market dynamics, showing the naira traded between ₦1,376 and ₦1,391.50 during Wednesday's session, with a simple average of ₦1,387.22/$. Parallel market rates typically follow similar directional trends, though specific figures are not provided.
• Will the naira strengthen further? Near-term pressure is influenced by global factors, particularly dollar strength driven by US inflation expectations and a tighter monetary policy outlook. Reduced interbank turnover ($55.7 million, down from $83.4 million) suggests lower liquidity, which could contribute to continued volatility. However, the CBN's medium-term inflation target of 6-9% and expectations of rising reserves may provide support.
• How do oil prices affect rates? Geopolitical tensions involving Iran continue to influence global sentiment, though crude oil prices fell 1.37% to $103.06 per barrel despite the conflict. Nigeria's external reserves declined slightly to $49.57 billion, highlighting ongoing pressures on the country's ability to support the naira amid global currency market volatility.