The Nigerian naira is holding its ground against the United States dollar, extending a recent spell of relative stability in both the official and parallel markets. Early trading data from the Nigerian Foreign Exchange Market shows the local currency exchanging at about ₦1,363.84 to the dollar, a slight appreciation from the previous closing rate of ₦1,366.96.

Activity in the official window has remained notably calm, with trades confined to a narrow band between ₦1,363.35 and ₦1,363.84. Market analysts say this tight range reflects firmer oversight by the Central Bank of Nigeria, which has been leaning on its Electronic Foreign Exchange Matching System to improve price discovery and reduce arbitrage opportunities.

By keeping transactions more transparent and channelling demand through formal platforms, the authorities appear to have curbed some of the volatility that plagued the market in earlier periods. Despite elevated inflation, reported at 15.15 percent, and a benchmark Monetary Policy Rate of 27.00 percent, the naira has so far managed to trade comfortably below the psychologically important ₦1,400 mark at the official window.

In the parallel market, where individuals and small businesses often turn when access to bank-sourced dollars is limited, the currency has also shown signs of steadiness. Bureau De Change operators in major hubs such as Lagos, Abuja and Kano quoted the dollar between ₦1,440 and ₦1,455, indicating a premium over the official rate but a far more orderly spread than the sharp swings seen toward the end of 2025.

Traders report that demand for foreign exchange to cover personal travel allowances, tuition payments and small-scale imports is being met without unusual delays or rationing. This has helped to dampen speculative hoarding and reduced the incentive for aggressive markups in street trading.

Market participants credit the calmer conditions to a combination of tighter monetary policy, improved liquidity management and the central bank’s push to route large corporate and institutional demand through the official market. By concentrating big-ticket transactions in the regulated window, authorities have limited the shockwaves that such deals can send through the parallel segment.

While the naira remains under structural pressure from import dependence and patchy dollar inflows, the current trading pattern suggests that, for now, policy measures and relatively healthy external reserves are providing a buffer. Investors and households alike will be watching closely to see whether this phase of stability can be sustained in the weeks ahead.