The Nigerian naira maintained its stability against the US dollar on Friday, March 27, 2026, trading at approximately ₦1,384.17 per dollar in the official foreign exchange market. This represents a marginal appreciation of 0.04% from the previous day’s close.
According to data from the Central Bank of Nigeria, the naira has been trading within a narrow range of ₦1,360 to ₦1,380 per dollar in recent weeks, indicating relative short-term stability. However, the parallel market continues to trade at a premium, with rates ranging from ₦1,410 to ₦1,415 per dollar.
The naira’s recent performance is attributed to improved foreign reserves, Central Bank interventions, and global oil price movements. Despite this, demand-side pressures persist, posing a challenge to full exchange rate convergence.
In the parallel market, also known as the black market, the naira traded at a weaker level due to sustained demand for foreign currency. Bureau de change operators in Lagos and Abuja quoted the dollar at around ₦1,400 to ₦1,420, depending on location and transaction volume.
The disparity between the official and parallel market rates underscores ongoing structural issues in Nigeria’s foreign exchange system, including limited dollar supply and sustained demand from importers and individuals.