Dollar to Naira Exchange Rate Today, April 24, 2026

The Nigerian naira is currently trading within a narrow range against the United States dollar in both official and parallel foreign exchange markets, indicating persistent demand pressures and a cautious market outlook.

In the Nigerian Foreign Exchange Market (NFEM), the official rate for the naira stands between ₦1,350 and ₦1,355 per dollar, as per the latest trading data from the past week. This trend reflects a consistent pattern, with the currency recently recorded at approximately ₦1,351.59/$ and ₦1,350.74/$ in prior trading sessions.

This official exchange rate is influenced by the Central Bank of Nigeria’s managed float system, where modest fluctuations are driven by liquidity conditions and ongoing foreign exchange interventions.

In the parallel market, also known as the black market, the naira trades at a significantly weaker level due to higher demand for dollars outside official channels.

Latest data from Bureau De Change operators indicates the dollar is being bought at about ₦1,395 and sold between ₦1,405 and ₦1,420.

This places the gap between the official and parallel market rates at roughly ₦40 to over ₦60, depending on location and transaction volume, highlighting persistent supply constraints in the formal FX window.

Market analysts attribute the continued pressure on the naira to strong demand for foreign exchange for imports, travel, and offshore obligations, alongside fluctuating oil revenues which remain Nigeria’s primary FX source.

Recent trends also show that, despite intermittent stability, the currency remains vulnerable to external shocks and domestic liquidity challenges.

Overall, the exchange rate movement today reflects a familiar pattern—relative stability at the official window and persistent premium pricing in the parallel market—underscoring ongoing structural imbalances in Nigeria’s foreign exchange system.