The Nigerian naira began the new trading week on a slightly stronger note against the US dollar on Monday, February 23, 2026, extending a period of relative calm in the foreign exchange market.
Figures from the Nigerian Foreign Exchange Market showed the currency opened at 1,339.18 to the dollar, an improvement from the previous session’s closing rate of 1,343.36. Early trading saw the naira move within a narrow band, briefly touching 1,342.98 before firming up again, a sign of measured demand and improved liquidity.
The performance reflects ongoing efforts by the Central Bank of Nigeria to stabilise the market through targeted interventions and policy guidance. The official monthly average rate stands around 1,346.32, meaning Monday’s opening levels were slightly stronger than recent trends.
In the parallel market, the gap between official and informal rates remained slim. Street traders quoted the dollar between 1,355 and 1,362, indicating that the premium over the official window has stayed relatively contained. Analysts attribute the narrowing spread to improved dollar supply and reduced speculative pressure, which had previously driven sharp swings.
Market watchers say several factors are helping to anchor the currency. The CBN’s steady liquidity injections to Bureau De Change operators and authorised dealers have eased retail demand pressures. Meanwhile, the high-interest-rate environment — with the Monetary Policy Rate at 27.00 per cent — continues to attract foreign portfolio flows seeking higher returns, lending support to the naira.
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Dollar to Naira exchange rate today, February 20, 2026
Inflation, recently recorded at 15.10 per cent for January 2026, has also shown signs of cooling compared to the peaks seen in 2024 and 2025. The moderation in price growth has contributed to a more predictable economic environment, reinforcing currency stability.
Financial analysts expect the naira to trade within the 1,335 to 1,350 range in the official window for the rest of the week, provided oil prices remain stable and domestic production levels are sustained.
