Dollar–Naira Exchange Rate Update For April 18, 2026

The naira continued to trade against the United States dollar at varying rates across segments of the foreign exchange market on Friday, April 17, 2026, reflecting ongoing fluctuations in Nigeria’s currency landscape.

According to market sources and data obtained by Ireporter Online, the dollar exchanged at the parallel market, commonly referred to as the black market, at an average selling rate of ₦1400 and a buying rate of ₦1390. These figures were gathered from Bureau De Change operators in Lagos, indicating sustained pressure on the local currency within the informal forex market.

Meanwhile, official figures from the Central Bank of Nigeria showed that the naira traded within a lower range on the regulated market, with the highest rate recorded at ₦1348 and the lowest at ₦1340 against the dollar. The apex bank has consistently maintained that it does not recognize the parallel market and has advised individuals and businesses seeking foreign exchange to transact through authorized financial institutions.

Financial analysts note that discrepancies between the official and parallel market rates persist due to demand and supply dynamics, as well as limited access to foreign currency through formal channels. It is also important to note that actual buying and selling rates may vary slightly depending on location and volume of transactions.