Dollar to Naira Exchange Rate Today: How Much Is $1 in Naira?

The naira opened on Friday, February 20, 2026, in a calm but watchful tone against the US dollar, as traders tracked modest movements in the official market and a slightly higher price on the street.

 Early indicators suggest Nigeria’s FX market is still in a “managed stability” phase, steady enough to prevent panic, but sensitive to supply, policy signals, and global shocks.

Official rate: tight intraday movement, little drama

At the Nigerian Foreign Exchange Market (NFEM), the official trading window, the naira opened at ₦1,344.74/$. 

Through the morning, it ticked up and down within a narrow band, touching ₦1,345.58/$ at a point before easing to around ₦1,345.40/$ by midday. 

That performance effectively mirrors the prior day’s close of ₦1,346.00/$ recorded on February 19, 2026, suggesting the market is not seeing heavy dislocation at the official end.

Parallel market: still higher, but the gap is no longer wild

On the parallel (informal) market, the dollar traded at a premium, reported around ₦1,360 to ₦1,365/$, depending on transaction size and location. 

That spread, roughly ₦15 to ₦20 above the official rate, remains meaningful, but it is also far tighter than the extreme divergences Nigerians saw in past periods of scarcity and speculation.