The Nigerian Naira maintained relative stability against the United States Dollar in early trading on Tuesday, April 7, 2026, across both official and informal foreign exchange markets.
At the Nigerian Foreign Exchange Market (NFEM), the official exchange rate opened at approximately ₦1,379.30 per dollar. During the morning session, the rate fluctuated between a high of ₦1,380.10 and a low of ₦1,378.70, showing a slight appreciation compared to last week’s closing rates.
Analysts attribute the calm to balanced demand and supply dynamics following mild volatility in late March, a period influenced by Central Bank of Nigeria (CBN) interventions and adjustments to interbank turnover aimed at bridging liquidity gaps.
In the parallel market, popularly known as the black market, the dollar was trading around ₦1,379.10 for both buyers and sellers. The narrow gap between official and parallel market rates underscores the effectiveness of the CBN’s ongoing exchange rate unification policies, which have significantly curbed arbitrage opportunities that once destabilized the currency.
Market watchers are now focused on upcoming futures contracts and anticipated central bank policy statements later this month, which are expected to guide the Naira’s trajectory through the mid-year period. For the moment, the Nigerian currency remains resilient, holding its ground despite global economic shifts.
