Exchange Rate Today, Friday, January 30, 2026, the official exchange rate of the US Dollar to Nigerian Naira is approximately ₦1,388.07 per $1, while the parallel (black market) rate remains higher, trading around ₦1,472–₦1,490 per $1. This reflects the ongoing gap between official and unofficial forex markets in Nigeria.
Dollar to Naira Exchange Rate (January 30, 2026)
On the official market, the Central Bank of Nigeria (CBN) rate is ₦1,421 per dollar, showing slight depreciation compared to the ₦1,397 low recorded earlier in the week. This movement highlights the volatility of the naira, which has been influenced by liquidity adjustments and forex reforms.
Black Market Dollar to Naira Rate
In contrast, the parallel market (black market) continues to trade at a premium, with rates between ₦1,480 and ₦1,490 per $1.
Many businesses and individuals rely on this market due to limited access to official forex, making the black market rate more reflective of real-world costs for imports, travel, and remittances.
Reps pass N58.47tn 2026 budget, says Nigeria has not printed single naira under Tinubu
Several factors are shaping today’s exchange rate:
CBN reforms: Efforts like the Electronic Foreign Exchange Matching System (EFEMS) have improved transparency.
Foreign reserves: Rising reserves have supported naira stability.
Dollar demand: Persistent demand for dollars in the parallel market keeps unofficial rates elevated.
Global influences: Oil prices, US monetary policy, and Nigeria’s trade balance continue to impact the naira.
Implications for Nigerians
Importers face higher costs when sourcing dollars outside official channels.
Travelers and students abroad often pay more due to reliance on black market rates.
Dollar To Naira Exchange Rate Today Friday January 30th 2026
Local businesses benefit from a stronger naira in the official market but struggle with uncertainty in parallel markets.
Consumers experience inflationary pressures, as goods priced with black market rates become more expensive.
Analysts expect the naira to remain under pressure in the short term, with the official rate hovering around ₦1,400–₦1,430 per dollar.
Sustained reforms and increased dollar inflows will be critical for narrowing the gap between official and parallel markets. Until then, Nigerians must continue navigating a dual exchange rate system that shapes both the economy and daily living costs.
