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The Nigerian Naira continued to show volatility against the US Dollar on Tuesday, January 13, 2026, reflecting ongoing pressures in both official and informal foreign exchange markets.
Ejes Gist Media reports that the naira traded weaker in the parallel market, while the official interbank rate remained relatively stable.
This article provides the latest Dollar to Naira exchange rate today, highlighting official, black market, and online conversion rates, along with insights into market dynamics and practical guidance for Nigerians seeking foreign exchange.
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Official Dollar to Naira Rate Today
The official mid-market rate or interbank rate represents the benchmark value of the naira against the US dollar and is typically used by banks, online platforms, and financial institutions for digital transactions.
- Official / Online Mid-Market Rate: ~₦1,422.8 per USD
- Trend: Relatively stable in early trading sessions
The official rate provides a reference point for corporate transactions, e-commerce payments, and formal forex settlements. Financial analysts note that official rates often diverge from black market values due to limited dollar supply and regulatory interventions.
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Parallel (Black Market) Dollar to Naira Rate
The informal or black market rate reflects the exchange values in Bureau de Change (BDC) outlets and cash transactions outside formal banking channels. These rates are typically higher than the official rate, reflecting supply-demand dynamics and liquidity constraints.
- Buy Rate: ~₦1,462 per USD
- Sell Rate: ~₦1,472 per USD
- Primary trading hubs: Lagos, Abuja, Port Harcourt, Kano
According to market reports, demand for dollars remains high due to import needs, business transactions, and remittances, contributing to a premium over the official rate.
Why the Rates Differ
Nigeria operates a dual foreign exchange system, where the official interbank rate and the parallel market rate often diverge. Several factors contribute to this difference:
- Dollar Supply Constraints: Limited foreign currency inflows affect liquidity at BDCs and banks.
- High Demand in Informal Markets: Traders, importers, and small businesses often seek dollars outside the banking system.
- Policy Interventions: Central Bank directives and regulatory measures can stabilise official rates without immediately affecting black market rates.
Experts warn that the gap between official and parallel market rates can fluctuate rapidly, particularly in response to economic news, oil revenue reports, and global market trends.
Exchange Rate Snapshot — January 13, 2026
| Market | Rate (₦ per $1 USD) | Notes |
|---|---|---|
| Official / Interbank | ~₦1,422.8 | Used for online transactions and bank transfers |
| Parallel / Black Market (Buy) | ~₦1,462 | Cash purchase at BDCs |
| Parallel / Black Market (Sell) | ~₦1,472 | Cash sales at BDCs |
This table provides Nigerians and investors with a clear reference for daily currency transactions and planning.
Tips for Safe Currency Exchange
Ejes Gist Media advises individuals and businesses to observe the following best practices when exchanging dollars for naira:
- Use Licensed BDCs or Banks: Ensure transactions occur through authorised operators to avoid fraud.
- Monitor Online Rates: Platforms like ValutaFX update official rates in real-time.
- Plan Ahead: Due to potential fluctuations, consider timing large transactions when rates are favourable.
- Avoid Unlicensed Dealers: Engaging informal operators without recognition increases the risk of scams.
Implications for Nigerians and Businesses
The persistent gap between official and black market rates affects:
- Importers and Exporters: Cost of goods may rise due to higher parallel market rates.
- Investors and Forex Traders: Opportunities exist for arbitrage, but with higher risk.
- Everyday Nigerians: Higher black market rates impact purchasing power, particularly for dollar-denominated payments.
Analysts recommend monitoring both official and parallel rates to make informed financial decisions.
What you should know
As of Tuesday, January 13, 2026, the Dollar to Naira exchange rate reflects ongoing market pressures in Nigeria. While the official rate hovers around ₦1,422.8 per USD, the parallel market rate remains higher, between ₦1,462 and ₦1,472, illustrating persistent demand pressures and currency market volatility.
Ejes Gist Media will continue to provide daily, verified updates on the Dollar to Naira exchange rate, offering guidance to businesses, investors, and individuals navigating Nigeria’s dual forex markets.
