The Nigerian Naira showed relative stability against the United States Dollar at the official foreign exchange market on Friday, 23 January 2026, trading between ₦1,418 and ₦1,421 per dollar.
The development comes after the Naira had weakened in previous sessions, falling to ₦1,422.07 per dollar on Thursday, 22 January, reflecting ongoing pressure in the official market earlier in the week.
At the parallel (black) market, the Naira exchanged between ₦1,470 and ₦1,485 per dollar, maintaining the usual premium over official rates.
Analysts attribute the current stability to improved dollar liquidity and steady foreign exchange inflows. The country’s foreign reserves continued to rise, reaching $45.99 billion as of 21 January 2026, up from $45.95 billion recorded on 19 January, according to the Central Bank of Nigeria (CBN).
Despite the recent consolidation, experts caution that the Naira remains vulnerable to volatility, particularly due to high import demand and foreign currency pressures.
