💵 Dollar to Naira Exchange Rate Today – April 23, 2026

The Nigerian naira slightly depreciated against the US dollar on April 23, 2026, trading around ₦1,340–₦1,400 in official and parallel markets due to ongoing FX demand and global economic pressures.

📊 Today’s Exchange Rate Breakdown

• Official Market (CBN / NFEM): ~₦1,347 per $1 (Reuters)
• Parallel Market (Black Market): ~₦1,400 – ₦1,420 per $1 (Reuters)
• Mid-market average: ~₦1,350+ per $1 (varies by platform) (Xe)

Why the Naira Is Depreciating

The slight drop in the naira is linked to several key factors:

🔹 1. Dollar Demand Pressure

• Businesses and importers continue to demand more USD
• Limited FX supply creates upward pressure on rates

🔹 2. Global Economic Tensions

• Rising oil prices and geopolitical issues are strengthening the dollar globally (Reuters)
• Investors are moving toward the USD as a safe haven

🔹 3. Market Liquidity Conditions

• Moderate inflows from exporters and investors helped stabilize the market
• However, demand still slightly outweighs supply (Reuters)

Market Trend Insight

• The naira has remained within the ₦1,340 – ₦1,420 range in recent weeks
• Analysts say the currency is relatively stable but under pressure
• Short-term outlook: sideways movement with mild depreciation risk

What This Means for Nigerians

• 💸 Imported goods may become slightly more expensive
• 📦 Businesses relying on FX may face higher costs
• 💰 Diaspora inflows could have stronger naira value