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Dollar Rate Crosses N1,400/$ In Black Market, Rises To N1,387/$ In Official Window

March 4, 2026
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On Wednesday, March 4, the foreign exchange (FX) rate for the United States dollar (USD) increased by N21.65 kobo to N1,409.42 kobo per $1.

The dollar rate increased from N1,387.77 kobo per USD recorded on Tuesday, March 3, indicating the naira depreciated in value by 1.56 percent.

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Also, the American greenback traded upward to N1,387.09 per dollar in the Nigerian foreign exchange market (NFEM), also known as the official window.

The dollar appreciated against the naira by 0.20 percent or N2.8 kobo from the N1,384.29 kobo per USD recorded the previous day in the NFEM.

During trading in the official window, the Central Bank of Nigeria (CBN) revealed the highest rate recorded by the dollar was N1,400 per USD, and the lowest rate was N1,382.5 kobo per $1.

The dollar rate eventually closed at N1,382.65 kobo per USD in the official window.

However, the pound traded flat in the black market at N1,889.99 kobo per £1, but in the official window, the British currency traded upward at N1,854.43 kobo per £1, from the previous day’s N1,841.55 kobo per £1.

This represents a N12.88 kobo increase in the FX rate of the pound, while the naira depreciated by 0.69 percent.

But the euro depreciated against the naira by 1.20 percent to N1,639.99 kobo per €1 in the black market, from N1,659.99 kobo per €1 recorded the day before, representing a N20 decline in the FX rate.

In the official window, the European currency traded at N1,614.69 kobo per €1 on Wednesday, compared to Tuesday’s N1,605.61 kobo per €1, indicating a N9.08 increase.

For press releases, tip-offs, and corporate information, call 08149575257 (hotline), email: editor@primebusiness.africa and publisher@primebusiness.africa

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