Naira Vs Dollar Today: Latest Exchange Rate Sparks Fresh Reactions

According to Ireporter Online, the exchange rate of the United States dollar to the Nigerian naira at the parallel market, commonly referred to as the black market, recorded notable activity on March 30, 2026. Market sources revealed that Bureau De Change operators in Lagos traded the dollar at a selling rate of ₦1,430 and a buying rate of ₦1,410.

The report indicates that these figures reflect prevailing trends within the informal foreign exchange market, where rates are largely determined by demand and supply dynamics. However, the Central Bank of Nigeria (CBN) has consistently maintained that it does not recognize the parallel market and has advised individuals and businesses seeking foreign exchange transactions to channel their requests through authorized financial institutions.

Further insights show that within the official market window, the CBN recorded the dollar trading between a high of ₦1,391 and a low of ₦1,380 for the same period. Analysts note that disparities between the official and parallel market rates persist, driven by forex supply constraints and market pressures.

It is important to note that exchange rates may vary across locations and dealers, as transactions in the parallel market are not standardized and are subject to fluctuations.