The Nigerian naira showed signs of stability against the US dollar in the early hours of Tuesday, April 7, 2026, across both the official and parallel foreign exchange markets.
At the Nigerian Foreign Exchange Market (NFEM), the naira opened at about ₦1,379.30 per dollar, reflecting a slight appreciation compared to last week’s closing rates. Early trading saw the currency fluctuate within a narrow range, hitting a high of ₦1,380.10 and a low of ₦1,378.70.
This steady performance comes after mild volatility recorded in late March, with interventions by the Central Bank of Nigeria and improved interbank activity helping to stabilise liquidity in the market. Analysts say the current trend points to a more balanced demand and supply dynamic as the second quarter begins.
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In the parallel market, the naira is trading at a similar level, hovering around ₦1,379.10 per dollar. The close alignment between official and black market rates suggests that ongoing exchange rate reforms are gradually reducing arbitrage opportunities that previously created wide gaps between the two markets.
Market watchers are now focusing on upcoming central bank policy decisions and futures contracts expected later this month, which could shape the direction of the naira in the coming weeks. For now, the currency appears to be holding firm despite global economic uncertainties.
