Dollar To Naira Today: Latest Exchange Rate For March 17, 2026

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 figures on March 16, 2026. According to Ireporter Online, sources within the Bureau De Change (BDC) segment in Lagos indicated that the dollar was sold at ₦1,430 and bought at ₦1,410 by traders operating in the informal forex market.

Reports further revealed that while these rates serve as a benchmark within the parallel market, actual buying and selling prices may vary slightly depending on location and dealer margins.

Meanwhile, the Central Bank of Nigeria (CBN) has continued to distance itself from activities in the black market, reiterating that the parallel market is not officially recognized. The apex bank advised individuals and businesses seeking foreign exchange transactions to utilize authorized financial institutions.

At the official window, data showed that the dollar traded within a range, with the highest rate recorded at ₦1,364 and the lowest at ₦1,354. Analysts note that the disparity between the official and parallel market rates persists, reflecting ongoing pressures in the foreign exchange market.