Dollar Vs Naira Today: Latest Exchange Rate Sparks Fresh Reactions

The naira continued to trade against the United States dollar at varying rates across the parallel market on April 11, 2026, reflecting ongoing fluctuations in Nigeria’s foreign exchange landscape. According to Ireporter Online, sources within the Bureau De Change (BDC) segment of the Lagos parallel market indicated that the dollar was sold at ₦1,409 and bought at ₦1,393 during trading on Saturday.

Market participants noted that these figures represent prevailing street rates commonly referred to as the black market or Aboki FX, where demand and supply dynamics largely determine pricing. However, the Central Bank of Nigeria (CBN) has consistently maintained its stance against the recognition of the parallel market, urging individuals and businesses seeking foreign exchange transactions to conduct them through official banking channels.

In contrast, official data from the apex bank showed the dollar trading within a lower range, with the highest rate recorded at ₦1,362 and the lowest at ₦1,354. Analysts emphasized that discrepancies between the official and parallel market rates persist due to forex scarcity, speculative activities, and differing regulatory frameworks.

It was further observed that actual buying and selling prices may vary slightly depending on location, volume, and individual dealers, highlighting the fluid nature of the foreign exchange market in Nigeria.