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Business & EconomyNaira Exchange Rate Today —
Naira Exchange Rate Today —
Sunday, 29 March 2026
CBN Official (Fri close)
₦1,387
▲ +₦4.37 vs Wed
Parallel Market
₦1,420
▲ ₦8–10 vs Wed
Official/Parallel Gap
₦33
⚠ Spread widening
Forex Reserves
$49.6B
Steady weekend
Weekend Market Summary: The naira has slipped back since Wednesday’s brief recovery — like a rubber band that stretched upward only to snap back. The official rate closed Friday at around ₦1,387/$, reversing most of Wednesday’s ₦5.70 gain. The parallel market has pushed higher to ₦1,420, widening the spread to ₦33. End-of-quarter corporate dollar demand, global trade uncertainty, and Nigeria’s slipping reserves are the main culprits heading into the last trading day of Q1 2026 tomorrow.
⚠ Weekend Note: The FMDQ/CBN official window is closed on Sundays. Monday 30 March opens the last trading day of Q1 2026 — expect heightened volatility as corporates rush to settle quarter-end dollar obligations. Budget at ₦1,420 for safety.
Official CBN Rates — Fri 28 Mar (Weekend Carryover) NFEM Window
| Currency | Buying (₦) | Selling (₦) | Mid Rate | vs Wed 25 Mar |
|---|---|---|---|---|
USD US Dollar | ₦1,384.50 | ₦1,389.00 | ₦1,386.70 | ▼ −₦4.07 |
GBP British Pound | ₦1,852.00 | ₦1,861.00 | ₦1,856.38 | ▼ −₦4.28 |
EUR Euro | ₦1,601.00 | ₦1,610.00 | ₦1,605.80 | ▼ −₦11.50 |
CAD Canadian Dollar | ₦986.00 | ₦994.00 | ₦990.00 | ▼ −₦15.40 |
CNY Chinese Yuan | ₦190.00 | ₦191.50 | ₦190.80 | — Flat |
USD/NGN This Week — How the Naira Moved Mon–Sun, March 23–29
| Day | CBN Official | Parallel | Spread | Move |
|---|---|---|---|---|
| Mon 23 Mar | ₦1,395.00 | ₦1,405 | ₦10 | ▼ Naira fell |
| Tue 24 Mar | ₦1,390.00 | ₦1,407 | ₦17 | ▲ Slight recovery |
| Wed 25 Mar | ₦1,382.63 | ₦1,411 | ₦28 | ▲ Best day of week |
| Thu 26 Mar | ₦1,384.39 | ₦1,413 | ₦29 | ▼ Slight reversal |
| Fri 27 Mar | ₦1,386.70 | ₦1,415 | ₦28 | ▼ Slipped further |
| Sun 29 Mar | ₦1,386.70 * | ₦1,420 | ₦33 | Market closed |
* Sunday carryover from Friday close. CBN resumes Monday 30 March — last trading day of Q1 2026.
Parallel (Black) Market Rates — Sunday 29 March 2026 BDC Weekend Rates
🇺🇸 USD — US Dollar
Buying
₦1,405
/
Selling
₦1,420
▼ Naira weakened ₦8–10 vs Wednesday
🇬🇧 GBP — British Pound
Buying
₦1,860
/
Selling
₦1,900
▼ +₦5 vs Wednesday
🇪🇺 EUR — Euro
Buying
₦1,580
/
Selling
₦1,625
▲ Euro slightly cheaper vs Wed
🇨🇦 CAD — Canadian Dollar
Buying
₦1,029
/
Selling
₦1,040
— Flat vs Wednesday
What Does This Mean for the Nigerian on the Street? Real-Life Impact — Sun 29 Mar
This week’s naira movement — plain talk: Wednesday’s brief recovery turned out to be like a false dawn — the naira gave back most of its gains by the weekend, settling weaker than where it started the week. With Q1 2026 ending tomorrow and corporate dollar demand peaking, Monday could bring fresh pressure. Here is what this week’s movement means for your pocket.
Food & Market Prices
The naira closed the week weaker than it opened — like a tyre slowly losing air between Monday and Sunday. Imported food staples (rice, vegetable oil, tomato paste, sugar) remain under upward price pressure. Traders who restocked at mid-week may absorb some cost, but expect no price relief at the market this coming week.
No price relief — costs remain highFuel & Transport
The week’s net naira weakness keeps fuel import costs elevated. Dangote refinery and NNPC continue to price in dollar terms. End-of-quarter demand Monday could nudge the naira weaker still — meaning bus and keke fares are unlikely to fall in April’s first week. Abuja and Lagos commuters should budget as-is.
No fare relief expected this weekSending & Receiving Remittances
If your family abroad wants to send money home today: Sunday is a good day to initiate a transfer — the naira is weaker on the street (₦1,420), so recipients get more naira per dollar than earlier in the week (₦1,411). Use Western Union, Remita, or your bank’s IMTO channel — not roadside changers who may exploit weekend thin liquidity.
Good day to receive — more naira per dollarSchool Fees & Study Abroad
Parents planning overseas school fee payments: a $10,000 payment now costs ₦13.87 million at official rate — or ₦14.2 million on the street. That’s ₦170,000 more expensive than Wednesday’s brief low. If your payment window is flexible, watch Monday — if Q1 end pressure eases after market open, rates may soften briefly.
Costs rose ₦170K vs Wednesday — wait if possibleOnline Subscriptions & Tech
Netflix, Spotify, Adobe, and similar platforms billed in dollars are now more expensive in naira terms. Your ₦1,000 Netflix card bought in naira buys fewer minutes of dollar-denominated content than it did last month. Data plans also remain elevated from the 2025 tariff hike — the current rate gives no relief there.
Subscriptions still costly — no changeSME Importers & Traders
For small business owners ordering goods from China or Dubai: the window did not improve this week. The yuan held flat but the dollar and euro both crept higher. Factor ₦1,430–1,440 per dollar into any import quotes you receive today — Q1 end on Monday typically squeezes liquidity further before settling in early April.
Hold non-urgent orders until mid-April if possibleSaving & Dollar Planning
If you have naira savings and are considering converting to dollars for safety: the street rate at ₦1,420 is not the worst week in recent memory — the naira was above ₦1,487 in September 2025. However, with Q1 end pressure tomorrow and global oil uncertainty, rushing to buy dollars today is not necessarily wise. Spread purchases over 2–3 weeks.
Dollar still a hedge — don’t panic-buy todayMonday Q1 End Alert
Tomorrow (Monday 30 March) is the last trading day of Q1 2026. This is historically the most volatile forex session of the quarter — corporates rush to settle dollar invoices, importers top up, and the CBN typically intervenes. Expect rates to jump early and possibly ease by afternoon. Avoid non-urgent dollar transactions before 12pm WAT Monday.
High volatility expected Monday morning💡 Your Sunday Action Plan
✓
Receiving remittances today? Today’s ₦1,420 parallel rate means you get more naira — use licensed IMTO channels (bank, Western Union, Remita) not street changers.✓
Paying school fees abroad? Budget at ₦1,430 per dollar minimum. If payment is not urgent, wait until Tuesday/Wednesday next week after Q1 end pressure clears Monday.✓
SME importers: Do not lock in large dollar purchases this weekend — Monday Q1 end may move rates sharply in either direction. Wait for Tuesday’s settlement.✓
Watching the naira? The key level to watch is ₦1,390 official — if CBN holds below that Monday, the naira is stabilising. If it breaks above ₦1,400, expect further pressure in April.✓
Dollar savings: If you must buy dollars today, use your bank’s official channel — the ₦33 gap between official and parallel is money lost every time you transact on the street. Disclaimer: Sunday rates carry over from Friday CBN close. Parallel market rates are from BDC weekend operators in Lagos and Abuja and may vary by location. Always verify before transacting.