Dollar to Naira Exchange Rate Today, February 18, 2026 – Latest Official and Black Market Rates in Nigeria

The Dollar to Naira exchange rate remains a key concern for businesses, importers, investors and individuals monitoring Nigeria’s foreign exchange market. As of Wednesday, February 18, 2026, the Naira recorded slight movements across both the official and parallel market windows amid mid-week demand pressures.

Official Exchange Rate at NAFEM

Data from the Nigerian Autonomous Foreign Exchange Market shows that the Naira is trading at an average rate of ₦1,345.45 per United States Dollar. Earlier in the trading session, the local currency experienced minor volatility, dipping briefly to ₦1,343.76 before stabilising around the current average rate.

Currency market analysts attribute the relative calm in the official window to ongoing liquidity management measures and sustained foreign exchange inflows. Export proceeds and regulated supply channels have helped moderate extreme fluctuations, even as corporate buyers continue to monitor intraday highs and lows to manage foreign exchange exposure.

The official window remains the primary channel for large-scale transactions, including manufacturing imports, corporate obligations and institutional foreign exchange settlements.

Black Market Dollar to Naira Rate Today

In the parallel market, commonly referred to as the black market, the Dollar is trading at a noticeable premium compared to the official rate. Bureau De Change operators across major commercial centres such as Lagos, Abuja and Kano report buying rates around ₦1,480 per Dollar, while selling rates range between ₦1,495 and ₦1,510.

The widening spread between the official and parallel market rates reflects sustained retail demand for foreign currency. School fees payments, medical travel, business travel allowances and small-scale import transactions continue to exert pressure on the informal segment of the market.

This rate differential, often described as the arbitrage gap, remains a critical indicator for investors and currency traders tracking short-term movements in Nigeria’s forex market.

Economic Implications for Businesses and Investors

The current Dollar to Naira exchange rate signals cautious stability in the broader Nigerian economy. Although the Naira has avoided sharp depreciations seen in previous periods, inflationary trends and import dependency continue to influence currency demand patterns.

If foreign exchange supply through regulated channels remains steady in the coming days, analysts suggest that pressure on the parallel market may gradually ease. However, fluctuations remain possible due to global oil price movements, capital flows and domestic liquidity conditions.

For importers, exporters, fintech operators and SMEs, closely tracking the official exchange rate remains essential for accurate cost projections, pricing strategies and foreign currency risk management. Individuals are also advised to rely on authorised channels when conducting foreign exchange transactions to ensure transparency and compliance with regulatory guidelines.

As trading continues through the week, market participants will be watching for further signals from monetary authorities and shifts in supply dynamics that could influence the Dollar to Naira rate across both official and informal markets.