Dollar to Naira Exchange Rate Update for March 12, 2026

On March 12, 2026, the exchange rate for the dollar to naira was reported, highlighting a black market rate of 1,420 naira per dollar. The previous day, March 11, 2026, the dollar was sold at 1,400 naira in the swap market.

The article stresses that the parallel market, or black market, is not acknowledged by official banking institutions, and individuals seeking to engage in currency exchange should approach banks directly. This information reflects the ongoing dynamics of currency exchange in Nigeria, particularly in the context of fluctuating rates and the distinction between official and unofficial markets.