Naira Holds Steady Against US Dollar as Markets Stabilize in Early 2026 Trading

Naira Holds Steady Against US Dollar as Markets Stabilize in Early 2026 Trading

LAGOS — The Nigerian Naira maintained a stable trajectory against the United States Dollar (USD) during early trading on Wednesday, January 7, 2026, reflecting cautious optimism in both official and parallel foreign exchange markets.

Data from the Nigerian Foreign Exchange Market (NFEM) indicate that the official Naira–Dollar rate opened at around ₦1,432 per USD, slightly softer than earlier in the week when rates hovered near ₦1,428, amid renewed corporate demand for imports as businesses resumed full operations after the festive season.

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In the parallel market, often referred to as the “black market,” traders in key hubs like Lagos and Abuja reported buying rates between ₦1,485 and ₦1,500 per USD. While the gap between official and parallel rates persists, market analysts note it has stabilized compared to previous quarters, largely due to Central Bank of Nigeria (CBN) liquidity interventions.

Market sentiment remains focused on the CBN’s policy direction for Q1 2026, with investors monitoring whether the apex bank will increase foreign exchange supply to Authorized Dealers to meet the anticipated surge in retail and corporate demand.

Analysts expect that, barring any sudden shocks, midday closing rates in the official segment are likely to settle between ₦1,430 and ₦1,435 per USD, reflecting a period of relative calm in Nigeria’s foreign exchange markets.

Naira Holds Steady Against US Dollar as Markets Stabilize in Early 2026 Trading