The Nigerian Naira began the new trading week on Monday, April 13, 2026, with slight fluctuations against the United States Dollar across both official and informal markets.
At the Nigerian Foreign Exchange Market (NFEM), the official trading window, the Naira opened at approximately N1,358.84 per Dollar. Although early trading saw the rate briefly rise to N1,362.08, it later stabilised close to its opening value.
Analysts attribute the relative stability to ongoing efforts by the Central Bank of Nigeria to manage liquidity and maintain oversight of the financial system.
In the parallel market, commonly known as the black market, the Dollar traded at higher rates due to sustained demand from individuals and small businesses. In key commercial centres such as Lagos, Kano, and Abuja, exchange rates ranged between N1,460 and N1,485 per Dollar.
Financial analysts continue to monitor the wide gap between official and informal rates, noting that any convergence will depend on fiscal policy developments and forthcoming economic data.
Market sentiment remains cautious, influenced by global factors including rising oil prices and geopolitical tensions in the Strait of Hormuz.
Given the direct impact of exchange rate movements on import costs and logistics, the Naira’s performance remains a key concern for both households and businesses. Experts expect the currency to trade within its current range for the rest of the session.