The naira showed relative stability against the US dollar on Friday, March 27, 2026, across both official and parallel foreign exchange markets, as efforts to improve liquidity continue.
At the Nigerian Foreign Exchange Market (NFEM), the currency traded within the ₦1,350 to ₦1,370 range per dollar, with mid-market rates hovering around ₦1,356/$1. This reflects only slight fluctuations and suggests a more stable trend compared to earlier periods of volatility.
Recent data from the Central Bank also indicates that throughout March, the naira has largely remained within a narrow band of ₦1,360 to ₦1,380 at the official window, reinforcing signs of short-term stability.
In the parallel market, however, the naira traded weaker, with bureau de change operators in Lagos and Abuja quoting the dollar between ₦1,400 and ₦1,420, depending on location and transaction size.
The gap between the official and parallel rates continues to highlight underlying challenges in Nigeria’s foreign exchange system, particularly limited dollar supply and sustained demand from importers and individuals.
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Analysts say recent stability has been supported by improved foreign reserves, Central Bank interventions, and movements in global oil prices. However, they caution that persistent demand pressures remain a key obstacle to fully aligning exchange rates across markets.
Overall, while the naira appears steadier at the official window, the disparity with the parallel market underscores ongoing structural issues in the country’s foreign exchange landscape.
