The Nigerian Naira maintained a steady position against the United States Dollar in the early hours of Friday, April 10, 2026, across both the official and informal currency markets.
At the Nigerian Foreign Exchange Market (NFEM), the official window for currency transactions, the Naira opened the day trading at approximately N1,361.75 per Dollar. This rate reflects the ongoing efforts by the Central Bank of Nigeria to manage liquidity and reduce volatility in the official market. Data from the early morning trading sessions showed minor fluctuations, with the currency reaching a brief high of N1,360.75 before stabilizing back at the N1,361.75 mark.
In the parallel market, popularly known as the black market, the Naira is trading at a slight premium compared to the official rate. Bureau De Change operators in Lagos and Abuja reported that the Dollar is being bought and sold within a range of N1,450 to N1,470, depending on the volume of the transaction and the specific location.
The spread between the official and parallel market rates remains a focal point for investors and businesses. Financial analysts suggest that the current stability is a result of consistent interventions and improved foreign exchange inflows. However, demand for the greenback for personal travel allowances, school fees, and import bills continues to exert pressure on the local currency.
As of 6:45 AM WAT, the market sentiment remains cautious, with traders closely monitoring the closing rates for the week to gauge the Naira’s performance heading into the mid-month period.
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