The Nigerian naira maintained relative stability against the US dollar on Thursday, April 30, 2026, trading around ₦1,375.07/$ at the official window, while the parallel market recorded slightly higher but closely aligned rates.
Official Market Performance
At the Nigerian Foreign Exchange Market (NFEM), the naira opened with a marginal appreciation compared to the previous session, settling at approximately ₦1,375.07 per dollar in early trading.
Market activity suggests a period of relative calm, supported by ongoing interventions from the Central Bank of Nigeria aimed at improving liquidity and ensuring smoother price discovery. Demand at the official window remains steady, largely driven by corporate entities meeting trade obligations and financing essential imports.
Parallel Market Trends
In the parallel market, commonly referred to as the black market, the naira traded within a narrow band of ₦1,380 to ₦1,390 per dollar. Rates across key cities—including Lagos, Abuja, and Kano—reflected a modest spread compared to the official window.
The relatively tight gap between both markets points to improved alignment, with analysts attributing the trend to increased transparency in the foreign exchange system, as well as steady inflows from remittances and foreign portfolio investments.
Outlook
The current exchange rate trend reflects cautious optimism in the broader economy, as market participants continue to monitor inflation dynamics and global oil price movements.
Traders expect the naira to remain within its current range in the short term, barring any significant shifts in dollar supply or policy direction. The narrowing spread between the official and parallel markets may also signal gradual progress toward exchange rate convergence.