Dollar to Naira Exchange Rate Today, March 12, 2026

The Nigerian Naira displayed a subtle yet firm resilience against the US Dollar during the early trading sessions of Thursday, March 12, 2026. Real-time data from the Nigerian Foreign Exchange Market (NFEM) and informal trading channels indicate that the local currency is navigating the mid-week session with a high degree of transparency, supported by the country’s robust foreign reserve position.

In the official NFEM window, the Naira opened at 1,392.03 per dollar during the early hours. Market activity throughout the morning saw the rate experience moderate upward pressure, touching a high of 1,400.07 before settling at a mid-morning quote of approximately 1,399.57 per dollar by 3:30 AM WAT.

This performance follows a period of consolidation where the Central Bank of Nigeria (CBN) has successfully cleared significant backlogs, fostering a more predictable environment for authorized dealers. Market turnover remains healthy, with the “willing-buyer-willing-seller” model effectively managing the demand from manufacturers and institutional investors looking to fulfill mid-month obligations.

The parallel market continues to shadow the official window with high precision, reflecting the long-term success of the central bank’s rate harmonization policies. In the informal sector, the dollar is being exchanged at rates ranging between 1,408 and 1,418 per dollar.

The spread between the official and “black market” windows remains exceptionally narrow, currently estimated at approximately 1% to 1.3%. Traders in Lagos and Abuja note that while there is steady retail demand for small-scale business transactions and personal travel allowances, speculative hoarding has remained non-existent due to the consistent availability of foreign exchange through licensed Bureau De Change (BDC) operators.