Naira to US Dollar conversion for March 27, 2026

The naira demonstrated a relatively stable performance against the US dollar on Friday, March 27, 2026, in both Nigeria's official and parallel foreign exchange markets, as efforts to enhance liquidity continued.

At the Nigerian Foreign Exchange Market, the naira was traded within the range of ₦1,350 to ₦1,370 per dollar, based on recent data and prevailing market trends.

Mid-market indicators revealed that the currency was hovering around ₦1,356 to $1, indicating minor fluctuations in the official market window.

Recent Central Bank figures showed that the naira has been moving within a narrow range in March, primarily between ₦1,360 and ₦1,380 at the official market, suggesting relative stability in the short term compared to previous volatility.

In the parallel market, the naira was traded at a higher rate, driven by persistent demand for foreign currency, with bureau de change operators in Lagos and Abuja quoting the dollar at approximately ₦1,400 to ₦1,420.

The disparity between the official and parallel market rates reflects underlying pressures in Nigeria's foreign exchange system, including limited dollar supply and sustained demand from importers and individuals.

Market analysts attribute the naira's recent performance to improved foreign reserves, Central Bank interventions, and global oil price movements, but note that demand-side pressures still pose a challenge to achieving full exchange rate convergence.

While the naira has shown stability at the official window, the gap with the parallel market highlights ongoing structural issues in the foreign exchange market.