Dollar to Naira Exchange Rate Today, March 10, 2026

On Tuesday, March 10, 2026, the Nigerian Naira exhibited a stable yet cautious performance against the US Dollar during the early trading hours.

Data sourced from the Nigerian Foreign Exchange Market (NFEM) and informal trading channels suggest that the local currency is effectively managing the increase in corporate demand observed at the beginning of the week.

This stability is bolstered by high liquidity levels and a notable peak in foreign reserves not seen in 13 years.

In the official exchange window, the Naira started at a rate of 1,398.24 per dollar. Initial trading saw the rate peak at 1,398.82; however, it later strengthened. By mid-morning, the exchange rate showed a positive trend, appreciating to 1,396.24 per dollar, as the market supply from the central bank and authorized dealers aligned with existing demand.

The current levels reflect a consolidation phase following the close of last week’s trading. Authorized dealers report that the Central Bank of Nigeria (CBN) has been proactive in ensuring the “willing-buyer-willing-seller” model remains functional, which has prevented the speculative spikes that historically plagued the market on Tuesday mornings.

In the parallel or informal market, the exchange rate continues to shadow the official window with a minimal premium.

As of this morning, the dollar is being exchanged at rates ranging between 1,405 and 1,415 per dollar in major hubs like Lagos and Abuja.

The spread between the official and “black market” rates remains exceptionally narrow, holding steady at approximately 1% to 1.5%. Market analysts attribute this sustained convergence to the CBN’s consistent supply to Bureau De Change (BDC) operators, which has successfully decentralized foreign exchange access and reduced the urgency for high-premium transactions in the informal sector.