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.

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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.

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

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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.

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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.

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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.

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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.

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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.