The Nigerian Naira maintained a stable but cautious position against the United States Dollar during Tuesday morning trading on February 17, 2026, as it continued to trade within the 1,350 range in the official window.
In the Nigerian Foreign Exchange Market (NFEM), the local currency opened at 1,351.18 per dollar. By mid-morning, the rate adjusted slightly, with the dollar trading at an average of 1,354.86, reflecting mild early-week corporate demand.
Market analysts say the Naira has largely avoided mid-month volatility, attributing the stability to the Central Bank of Nigeria’s liquidity management strategy and the transparent price-matching framework of the Electronic Foreign Exchange Matching System (EFEMS). With the Monetary Policy Rate supporting domestic stability, the official rate has remained below the 1,400 mark for more than two weeks.
In the parallel market, the dollar traded at a premium, with Bureau De Change operators in Lagos, Abuja and Kano quoting rates between 1,425 and 1,440. Traders reported sufficient dollar supply to meet demand for personal travel and small-scale business transactions.
The relatively narrow spread between the official window and the parallel market continues to discourage speculative hoarding, contributing to a more predictable forex environment.
As trading continues, investors are watching to see whether the Naira can strengthen toward its opening rate. Nigeria’s external reserves remain a key buffer against external shocks, with market participants monitoring closing figures for signals on the currency’s momentum for the rest of the week.
