Dollar To Naira Exchange Rate Today – March 15, 2026

The Nigerian currency continued to face pressure in the foreign exchange market as the dollar traded significantly higher in the parallel market. According to Ireporter Online, the United States dollar exchanged for ₦1,440 at the selling rate and ₦1,420 at the buying rate in the Lagos parallel market on Saturday, March 14, 2026, based on information obtained from Bureau De Change operators.

Market sources indicated that individuals seeking to exchange dollars for naira at the informal market could obtain the American currency at around ₦1,440, while dealers purchased dollars from customers at approximately ₦1,420. The rates reflect ongoing fluctuations in the country’s foreign exchange market as demand for the U.S. currency remains strong.

Meanwhile, the official exchange rate window showed comparatively lower figures. Data from the official market revealed that the dollar traded between a high of about ₦1,374 and a low of around ₦1,362 against the naira during the same period.

Financial authorities have repeatedly cautioned Nigerians against relying on the parallel market for foreign exchange transactions. The Central Bank of Nigeria maintains that it does not recognize the black market and has consistently advised individuals and businesses seeking foreign exchange to conduct their transactions through authorized financial institutions and licensed channels.

Analysts, however, note that exchange rates across markets can vary due to supply and demand dynamics, meaning the prices at which individuals buy or sell foreign currency may differ slightly from prevailing market quotations.