The Nigerian naira held fairly steady against the United States dollar in early trading on Tuesday, January 6, 2026, across both the official and informal foreign exchange markets.
Figures from the Nigerian Foreign Exchange Market show only slight movements, with the naira trading at about ₦1,431.47 to the dollar at the official window. This represents a modest improvement compared to rates seen in the opening days of the year, when the currency hovered closer to ₦1,440 per dollar.
At the parallel market, also known as the black market, the naira continued to exchange at higher levels. Bureau De Change operators in cities such as Lagos, Abuja and Kano quoted rates ranging between ₦1,495 and ₦1,510 per dollar. The wide gap between the official and unofficial rates remains under close watch by investors and policymakers, especially as the Central Bank of Nigeria works to improve liquidity and promote transparent price discovery.
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Analysts attribute the relative calm in the market to a balance between demand pressures—such as school fees and seasonal import needs—and steady interventions alongside improved foreign portfolio inflows.
However, despite the slight strengthening at the official window, many Nigerians are yet to feel relief, as the cost of living and prices of imported goods remain highly sensitive to exchange rate movements.
