The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1378 per $1 on Wednesday, March 4th, 2026. The naira traded as high as 1384 to the dollar at the investors and exporters (I&E) window on Tuesday. This is brought to you by Bizwatch Nigeria.
According to data tracked on https://ngn.currencyrate.today/, the dollar was valued at ₦1,378.58 per $1 as of 09:50 UTC on Wednesday morning.
In the official Nigerian Foreign Exchange Market (NFEM), the Naira opened at ₦1,379.05 per dollar during early Wednesday trading. The rate later fluctuated, touching an intraday low of ₦1,376.02 before rebounding slightly. By 7:30 AM WAT, the exchange rate was quoted at approximately ₦1,377.04 per dollar, reflecting modest intraday volatility.
Data from the Central Bank of Nigeria’s exchange rate portal (https://www.cbn.gov.ng/rates/ExchRateByCurrency.html) shows that the apex bank maintained a recent closing benchmark near ₦1,384.29, representing a slight depreciation when compared to the February average of ₦1,364.74. The foreign exchange market continues to operate under the Central Bank’s “willing-buyer, willing-seller” framework, aimed at improving price discovery and liquidity in the official window.
How much is a dollar to naira today in the black market?
Dollar to naira exchange rate today black market (Aboki dollar rate):
In the parallel market, traders exchanged the US dollar between ₦1,385 and ₦1,395 per $1 on Wednesday, March 4, 2026. The spread between the official and parallel market rates currently hovers around 1.2% to 1.5%, indicating that the two markets are trading relatively close compared to previous months.
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and has advised individuals and businesses seeking foreign exchange to conduct transactions through authorized banks and official FX channels.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
|---|---|
| Selling Rate | ₦1,395 |
| Buying Rate | ₦1,385 |
Dollar to Naira CBN / NFEM Rate Today
| Dollar to Naira (USD to NGN) | Official Exchange Rate Today |
|---|---|
| Opening Rate | ₦1,379.05 |
| Intraday Low | ₦1,376.02 |
| Morning Quote (7:30AM) | ₦1,377.04 |
| Recent CBN Closing Rate | ₦1,384.29 |
Important Notes
- The official exchange rate is sourced from the Nigerian Foreign Exchange Market (NFEM) and published by the Central Bank of Nigeria via its official exchange rate platform.
- The black market rate reflects prices quoted by Bureau De Change (BDC) operators across major trading hubs including Lagos and Abuja.
- Exchange rates may vary depending on transaction volume, location, and dealer margins.
For daily updates on the dollar to naira exchange rate and other market movements, stay with BizWatch Nigeria.
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