As of Saturday morning, March 28, 2026, the Naira is showing relative stability following a week of marginal fluctuations. Below are the current exchange rates across the primary markets:
Exchange Rate Summary
| Market Segment | Exchange Rate (USD to NGN) |
| Official Market (NFEM) | ₦1,383.46 |
| Black Market (Parallel) | ₦1,410 – ₦1,425 |
| NDF (1-Month Forward) | ₦1,445.20 |
Market Analysis
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Official Window: The Nigerian Foreign Exchange Market (NFEM) closed yesterday evening at approximately ₦1,383.46, representing a slight 0.24% depreciation from Thursday’s close. Throughout the week, the rate has largely hovered within the ₦1,370 – ₦1,390 band.
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Parallel Market: On the streets of Lagos and Abuja, Bureau De Change (BDC) operators are quoting the dollar between ₦1,410 and ₦1,425. Demand remains steady but high due to month-end corporate settlements and individual travel requirements.
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Liquidity Trends: Market liquidity improved slightly toward the end of the week, supported by an uptick in autonomous dollar inflows. The Central Bank of Nigeria (CBN) continues to monitor the Electronic Foreign Exchange Matching System (EFEMS) to curb speculative bidding.
Factors Influencing the Rate Today
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Month-End Demand: Increased pressure from businesses settling international invoices as the first quarter of 2026 comes to a close.
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Global Oil Prices: Recent stability in Brent Crude prices has helped bolster Nigeria’s foreign reserves, providing the CBN with more room to intervene.
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Inflationary Pressure: With the recent spike in local fuel prices (now averaging ₦1,350/litre), there is increased indirect pressure on the Naira as transport and production costs rise.
Disclaimer: Exchange rates in the parallel market can vary significantly based on location (Lagos vs. Abuja vs. Kano) and the volume of the transaction. Always verify with a licensed BDC operator before executing a trade.
