NAIRA HOLDS STEADY AGAINST DOLLAR ACROSS OFFICIAL, PARALLEL MARKETS

April 11, 2026April 11, 2026

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By Aishat Momoh. O.

The Nigerian currency maintained relative stability against the United States Dollar in early trading on Friday, April 10, 2026, across both official and informal foreign exchange markets.

At the Nigerian Foreign Exchange Market, the Naira opened at approximately N1,361.75 to the Dollar, reflecting ongoing efforts by the Central Bank of Nigeria to manage liquidity and curb volatility in the official window.

Early trading data showed slight fluctuations, with the currency briefly strengthening to N1,360.75 before settling back at around N1,361.75.

In the parallel market, also known as the black market, the Naira traded at a premium, with Bureau De Change operators in Lagos and Abuja quoting rates between N1,450 and N1,470 per Dollar, depending on transaction size and location.

The gap between the official and parallel market rates remains a key concern for investors and businesses. Analysts attribute the current stability to sustained regulatory interventions and improved foreign exchange inflows.

However, demand pressures—particularly for personal travel allowances, school fees, and importation—continue to weigh on the local currency.

As of early morning trading, market sentiment remained cautious, with traders closely watching end-of-week closing rates to assess the Naira’s direction ahead of the mid-month trading cycle.