The Nigerian Naira has shown relative stability in the early hours of trading today, Tuesday, January 13, 2026, as the currency maintains a narrow range against the US Dollar across both the official and informal markets.
Official Market Performance
In the Nigerian Foreign Exchange Market (NFEM), the Naira opened at approximately 1,424.24 per dollar. According to real-time data from the trading platform, the rate has fluctuated slightly throughout the morning session, reaching a high of 1,425.56 and a low of 1,422.99.
This trend follows the closing figures from the previous week, where the Central Bank of Nigeria (CBN) recorded a weighted average rate of 1,424.27 on January 9. The current stability suggests a period of consolidation as market participants digest recent liquidity injections and monetary policy signals.
Parallel Market Rates
On the parallel (black) market, the exchange rate is currently hovering between 1,450 and 1,465 per dollar for cash transactions, depending on the location and volume of the trade. This reflects a persistent, though narrowing, gap between the official and unofficial segments of the market.
Bureau De Change (BDC) operators in major hubs like Lagos and Abuja report moderate demand for the greenback, noting that while speculative pressure has cooled compared to the year-end volatility of 2025, holiday-related travel and school fee payments continue to drive demand.
Market Outlook
Economic analysts suggest that the Naira’s performance in the coming weeks will largely depend on the consistency of dollar supply to the NFEM and the global movement of crude oil prices. Investors are also keeping a close eye on the CBN’s foreign reserves, which serve as a critical buffer for the local currency.
While the current rates indicate a modest recovery from the highs seen in December 2025, the market remains sensitive to any shifts in domestic inflation data or international trade balances.
Credit: Vanguard News Nigeria