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Dollar to Naira Exchange Rate Today, March 17, 2026

Published

4 months ago

New Dollar to Naira Rate Emerges as Fresh Exchange Hits Market

The Nigerian Naira has begun the day with minor fluctuations against the United States Dollar, reflecting a continued trend of relative stability in both official and parallel markets.

Recent reports from the Nigerian Foreign Exchange Market (NFEM) and informal trading centers show that demand for the currency remains steady, with the Naira maintaining its position following recent interventions by the Central Bank of Nigeria.

At the opening of the official NFEM window, the Naira was valued at approximately 1,367.18, and there was a gradual upward movement observed during early morning trading sessions.

By 3:00 AM, the rate had reached 1,372.21 per dollar, representing a modest depreciation of about 0.37% from the opening figures. This controlled movement suggests a balanced level of liquidity in the official sector, as market participants align their bids with the current economic indicators.

The parallel market, often used as a barometer for immediate retail demand, shows a slightly different picture. In major cities like Lagos and Abuja, Bureau De Change operators are quoting the dollar between 1,395 and 1,410 for selling, depending on the volume of the transaction. The spread between the official and parallel markets remains relatively narrow, a sign that speculative pressures have been largely contained compared to the volatility seen in previous quarters.