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 The Nigerian naira continues to trade within a relatively narrow band against the United States dollar across both the official and parallel foreign exchange markets, reflecting sustained demand pressures and cautious market sentiment. At the Nigerian Foreign Exchange Market (NFEM), which serves as the official window, the naira is trading around ₦1,350 to ₦1,355 per dollar based on the most recent trading data and trends observed in the week. This aligns with recent figures showing the currency hovering near ₦1,351.59/$ and about ₦1,350.74/$ in preceding sessions. The official rate continues to be influenced by the Central Bank of Nigeria’s managed float system, with modest fluctuations driven by liquidity conditions and ongoing FX interventions. In the parallel market, also known as the black market, the naira trades at a significantly weaker level due to higher demand for dollars outside official channels. Latest data from Bureau De Change operators indicates the dollar is bein...

  The Nigerian Naira continued its recent trend of relative stability against the US Dollar in early Friday trading, with the official Nigerian Foreign Exchange Market (NFEM) quoting the greenback at approximately ₦1,383 to ₦1,386 per dollar. Data from major financial platforms, including Investing.com and Trading Economics, showed the USD/NGN pair closing the previous session near ₦1,386.16 before carrying forward into March 6 with minimal movement. The mid-market rate hovered at ₦1,385–₦1,386, reflecting a marginal 0.1–0.2% daily change amid subdued volatility. In contrast, the parallel market — often referred to as the black market — saw dollars exchanging at a premium, ranging from ₦1,390 to ₦1,410 per dollar, according to dealer quotes and aggregator sites like NgnRates and AbokiFX. The narrow spread of roughly 1–2% between official and informal rates underscores improved market alignment, attributed to sustained Central Bank of Nigeria (CBN) supply interventions and the ongoi...

  The Nigerian Naira continued its impressive rally against the US Dollar, reaching one of its strongest official rates in nearly two years amid improved forex supply and positive market sentiment. According to Central Bank of Nigeria (CBN) data and cross-referenced mid-market rates, the official exchange rate in the Nigerian Autonomous Foreign Exchange Market (NAFEM) settled around ₦1,336 per USD on February 18, up from ₦1,348 the previous session. This represents a daily gain of over ₦10 for the Naira, extending a trend of appreciation that has seen the currency strengthen by roughly 5–10% in recent weeks. The latest CBN figures (updated through February 17) show a central rate near ₦1,335.96, with buying at ₦1,334.96 and selling at ₦1,335.96. Independent platforms like Xe report mid-market levels between ₦1,342–1,346 early on February 18, confirming the upward momentum. Analysts attribute the Naira’s gains to sustained forex inflows, tighter monetary policy, and reduced speculat...

 The Nigerian Naira remained relatively stable against the US Dollar in the official foreign exchange market on Tuesday, February 17, 2026, as the Central Bank of Nigeria (CBN) continued to maintain tight liquidity management and interventions in the foreign exchange space. According to data from the Nigerian Foreign Exchange Market (NFEM), the Naira opened the trading session at approximately ₦1,351.18 per US Dollar. By mid-morning, the rate had seen a slight adjustment, trading at an average of ₦1,354.86 per Dollar. This represents a marginal depreciation in the official window but keeps the rate firmly within the recent consolidation range around the ₦1,350–₦1,355 level. Official Market (NFEM) Rates – February 17, 2026 Opening rate: ₦1,351.18 / $1 Current / mid-morning rate: ₦1,354.86 / $1 Previous day (February 16) closing reference: Around ₦1,348–₦1,354 The stability in the official market reflects ongoing CBN efforts to manage forex supply, including recent sales of dollars t...

  The Nigerian Naira maintained its recent stability against the US Dollar as trading resumed on Monday, with the official Nigerian Foreign Exchange Market (NFEM) quoting around ₦1,363.84 per dollar in early sessions. This marks a slight improvement from the previous Friday's close of approximately ₦1,366.96, signaling continued appreciation pressure on the greenback. According to data from the Central Bank of Nigeria (CBN) and market trackers, the official window has hovered in the ₦1,360–1,370 range in recent days, supported by interventions that direct corporate and institutional demand away from informal channels. Mid-market rates from global converters like Xe and Wise aligned closely, showing $1 USD exchanging for about ₦1,363–1,367. In the parallel market, Bureau De Change (BDC) operators in major cities including Lagos, Abuja, and Kano quoted the dollar in a narrow band of ₦1,440 to ₦1,455. Buy rates were often around ₦1,445, while sell rates reached up to ₦1,455, reflectin...