Dollar to Naira Exchange Rate Today, March 23, 2026

The Naira started the new week on a calm note against the US Dollar, as the effects of recent Central Bank of Nigeria (CBN) policy changes continue to play out in both the official and street markets.

Official Market

In the official market, the Naira opened trading today at roughly ₦1,356.74 per Dollar. The rate has been mostly steady since mid-March, when it fluctuated between ₦1,344 and ₦1,370. At its highest point in recent days, the rate reached ₦1,362.00, but it has mostly stayed close to ₦ 1,355.00.

Experts say this steadiness is largely due to a CBN trading system that has made buying and selling of foreign currency more transparent and less open to manipulation.

Street Market (Black Market)

On the streets, the Dollar is still selling at a higher price than the official rate — but the difference between the two is much smaller than it used to be. As of Monday morning, traders in Lagos and Abuja were selling the Dollar for between ₦1,410 and ₦1,430, depending on the amount you wanted to buy.

This improvement is partly thanks to a policy change in February 2026, which brought licensed money changers back into the official system. This has made it easier for everyday Nigerians to obtain Dollars for expenses such as school fees and travel through legal channels, reducing the number of people going to the black market.

What the Bigger Picture Looks Like

The overall economy is giving the Naira some support this quarter. Nigeria’s foreign reserves are sitting at around $50 billion, helped by oil production of about 1.46 million barrels per day and decent global oil prices.

The CBN has also kept interest rates high to bring inflation down, and it seems to be working — inflation dropped to 15.10% earlier this year. On top of that, 30 major banks have already met the CBN’s new minimum capital requirements before the March 31 deadline, which is a good sign for the health of Nigeria’s banking sector and the stability of the Naira.