The Nigerian naira held relatively steady against the US dollar in the early hours of Friday, April 10, 2026, across both official and informal markets.
At the Nigerian Foreign Exchange Market (NFEM), the official trading window, the naira opened at about ₦1,361.75 per dollar. Early trading showed only slight movement, briefly strengthening to around ₦1,360.75 before returning to the ₦1,361.75 level. The stability reflects ongoing efforts by the Central Bank of Nigeria to manage liquidity and keep the market from swinging too sharply.
In the parallel market, also known as the black market, the dollar continued to trade higher than the official rate. Bureau de Change operators in Lagos and Abuja reported buying and selling rates ranging between ₦1,450 and ₦1,470, depending on transaction size and location.
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The gap between both markets remains a key concern for investors and businesses. Analysts say the relative calm in the exchange rate is supported by consistent interventions and better foreign exchange inflows. Still, demand for dollars—for travel, school fees, and imports—continues to put pressure on the naira.
As of 6:45 a.m. WAT, traders remained cautious, watching how the currency would close for the week to better understand its direction heading into the middle of the month.
