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The dollar to naira exchange rate today, Friday, January 30, 2026, reflects sustained divergence between Nigeria’s official foreign exchange market and the parallel market, as the naira trades within a relatively stable range at the Nigerian Foreign Exchange Market (NFEM) while continuing to weaken at the informal end of the market.
At the official market, data from authorised trading platforms indicate that the naira exchanged between ₦1,389 and ₦1,392 per United States dollar. This level represents continued consolidation below the ₦1,400 psychological threshold, following recent Central Bank of Nigeria reforms aimed at improving liquidity, transparency, and price discovery in the FX market.
Ejes Gist News reports that the official rate has remained within this narrow band for several sessions, suggesting reduced volatility in regulated trading windows.
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Official Dollar to Naira Rate
The official dollar to naira exchange rate is derived from transactions executed by banks, exporters, and institutional participants through the NFEM framework. Analysts attribute the relative stability to improved FX supply from autonomous sources and stricter compliance with reporting and settlement rules.
- Official exchange rate: ₦1,389 – ₦1,392 per US dollar
- Market segment: Nigerian Foreign Exchange Market (NFEM)
- Reference sources: Interbank trading data and authorised FX platforms
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The official rate is typically used for government transactions, large-scale imports, and corporate settlements, and it reflects Central Bank oversight and regulatory controls.
Black Market Dollar to Naira Rate
In the parallel market, also referred to as the black market or Aboki market, the naira continues to trade at a discount to the official rate. Currency dealers in major commercial centres quoted the dollar between ₦1,460 and ₦1,480, depending on location, transaction volume, and availability of forex.
- Black market exchange rate: ₦1,460 – ₦1,480 per US dollar
- Market segment: Parallel (informal) market
- Price drivers: Retail demand, travel needs, and limited cash supply
The premium between the official and parallel markets persists, reflecting unmet retail demand and the ongoing reliance of individuals and small businesses on informal FX channels.
Factors Influencing the Exchange Rate
Market observers link the current exchange rate dynamics to a combination of policy-driven supply management, moderated speculative activity, and broader macroeconomic conditions. The Central Bank’s FX reforms, including enhanced monitoring and settlement systems, have contributed to narrowing daily fluctuations at the official window, while structural demand pressures continue to shape pricing in the parallel market.
Dollar to Naira Exchange Rate Today, Friday, January 23, 2026
Exchange rates remain subject to intraday movements, and quoted figures may vary across locations and dealers. Buyers and sellers are advised to confirm prevailing rates through authorised financial institutions or reputable forex operators before completing transactions.
