As of this morning, Tuesday, March 24, 2026, the Naira continues to face volatility against the US Dollar.
The rates have shifted slightly since the market opened, reflecting ongoing pressure from international energy prices and local demand.
Here is the breakdown of the current exchange rates:
Current Exchange Rates
| Market Type | Rate (1 USD to NGN) | Trend |
| Official (NAFEM) | ₦1,373.05 | 📉 Slightly Improved |
| Parallel (Black Market) | ₦1,415 – ₦1,425 | ↔️ Stable |
| Bureau De Change (BDC) | ₦1,405 – ₦1,410 | ↔️ Stable |
Quick Summary
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Official Market: The Nigerian Autonomous Foreign Exchange Market (NAFEM) saw the Naira open at approximately ₦1,388, but it has since strengthened slightly to the ₦1,373 range in early trading.
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Parallel Market: The gap between the official and black market rates (the “spread”) remains around ₦40–₦50, which continues to influence local pricing for imported goods and services.
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Volatility: Market analysts attribute the current fluctuations to the ripple effects of the Iran-Israel conflict, which has increased global oil price volatility and tightened foreign exchange liquidity.
