Dollar To Naira Today: April 1, 2026 — Latest Exchange Rate Update

The exchange rate between the United States dollar and the Nigerian naira at the parallel market, commonly referred to as the black market, recorded notable activity on March 31, 2026. According to financial market sources, the dollar was traded at a selling rate of ₦1,430 and a buying rate of ₦1,410 among Bureau De Change operators in Lagos. Market observers note that these figures reflect ongoing fluctuations influenced by demand and supply dynamics within the informal forex segment.

Reports indicate that while many Nigerians continue to rely on the parallel market for foreign exchange transactions, the Central Bank of Nigeria maintains its stance against the practice. The apex bank has consistently advised individuals and businesses seeking foreign exchange to utilize official banking channels, emphasizing that it does not recognize or regulate black market operations.

At the official window, data shows that the dollar traded within a range, with the highest rate recorded at ₦1,388 and the lowest at ₦1,385. Analysts highlight that discrepancies between the official and parallel market rates persist, driven by limited forex liquidity and market pressures.

It is important to note that exchange rates may vary across locations and dealers, as prices are largely determined by prevailing market conditions at the time of transaction.