Naira-Dollar Exchange: What You Need to Know Today
Naira maintains stability in early trading
The Nigerian naira remained relatively stable against the United States dollar on Tuesday, 27 January 2026, in both the official Nigerian Foreign Exchange Market (NFEM) and the parallel (black) market. Analysts say the early trading session shows continued calm in the foreign exchange space.
Official market rate shows marginal gains
In the official market, the naira opened at approximately ₦1,412 per dollar, marginally stronger than Monday’s closing position. Intraday fluctuations have kept the rate within a narrow range, signalling limited volatility.
Parallel market quotes remain moderate
In major cities including Lagos, Abuja and Kano, Bureau de Change operators are quoting the dollar between ₦1,475 and ₦1,485 in the parallel market, indicating a moderate spread between official and informal rates compared with previous periods of wider divergence.
Policy context: forex reforms and liquidity support
Market analysts attribute the relative calm to ongoing efforts by policymakers to boost liquidity and improve transparency in the forex market. The Central Bank of Nigeria’s measures to manage corporate demand and support foreign currency supply are seen as contributing to the dampening of extreme volatility.