The Nigerian Naira remained relatively stable against the United States Dollar on Thursday morning across both the official foreign exchange market and the parallel market, extending the calm trading pattern seen in recent days.
At the Nigerian Foreign Exchange Market (NFEM), the Naira opened trading at about ₦1,371.25 to one US Dollar, maintaining a narrow range similar to previous sessions.
The latest figures reflect continued stability in the official market, where trading activities supervised by the Central Bank of Nigeria have recently averaged around ₦1,373 per Dollar.
Market participants said liquidity in the official window has remained relatively healthy, with regular interbank transactions and monetary interventions helping to prevent major fluctuations in exchange rates.
In the parallel market, also known as the black market, the Naira traded at nearly the same level in major commercial cities such as Lagos, Abuja and Kano.
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Bureau De Change operators quoted the Dollar at around ₦1,370 for buying and ₦1,372 for selling, showing a very small gap between the official and informal markets.
Financial analysts say the close alignment between both markets signals reduced pressure on the local currency and a decline in speculative trading activities that previously widened the exchange rate gap.
They also attributed the relative stability to tighter monetary policies introduced by the Central Bank, including the decision to maintain the Monetary Policy Rate at 26.5 percent.
According to analysts, the policy stance has helped control liquidity within the financial system while supporting confidence in the Naira amid ongoing economic adjustments.
