Naira to US Dollar conversion rate for Saturday, March 13, 2026

The Nigerian Naira demonstrated its ability to withstand pressure from the US Dollar as the trading week came to a close on Friday, March 13, 2026, with real-time data from the Nigerian Foreign Exchange Market and informal trading channels showing the currency's stability.

n

This stability is attributed to a healthy supply of liquidity and the central bank's proactive management of the market, which has helped to maintain the Naira's value within a consolidated range.

n

In the official market, the Naira started the day at 1,398.74 per dollar during the early morning hours, and by 3:00 AM WAT, the exchange rate had been quoted at 1,398.63, representing a minor appreciation of 0.01% from the opening quote.

n

The Central Bank of Nigeria's "willing-buyer-willing-seller" model has been instrumental in bridging the gap between demand and supply for authorized dealers, resulting in a robust market turnover and an official mean rate for the week that continues to hover around the 1,395 mark.

n

The parallel market has followed the official window's lead, with the US dollar being exchanged at rates ranging between 1,405 and 1,415 per dollar in informal trading hubs across Lagos, Abuja, and Kano.

n

The spread between the official and "black market" windows remains narrow, at approximately 1% to 1.2%, due to the consistent weekly supply to Bureau De Change operators, which has satisfied retail demand for personal travel and small-scale business transactions.

n

Nigeria's foreign reserves have recently surpassed the 50 billion dollar milestone, giving the Central Bank of Nigeria the necessary "firepower" to manage liquidity and defend the currency against external shocks.

n

The country's disinflationary trend, with headline inflation cooling to 15.10% in recent reports, has boosted both domestic and foreign investor confidence, resulting in the real value of the Naira seeing its strongest performance in years.

n

The energy sector reforms have increased output from domestic refineries, significantly reducing the demand for foreign exchange for fuel imports, a primary historical driver of currency volatility.

n

Steady crude oil production near 1.46 million barrels per day ensures a reliable and consistent stream of foreign currency inflows into the national coffers, further supporting the Naira's stability.

n

As the market enters the weekend, analysts expect the Naira to finish the week within the 1,395 to 1,405 range, with the focus for the coming week shifting toward global market reactions to US Federal Reserve policy signals.