Nigeria’s currency has maintained relative stability in recent trading sessions, hovering around the ₦1,350 range against the US dollar at the official market. This comes despite continued pressure from foreign exchange demand and broader economic uncertainties.
At the Nigerian Foreign Exchange Market, the naira has shown only slight fluctuations, supported in part by the Central Bank’s managed float system and periodic interventions aimed at stabilizing liquidity. Market observers note that while volatility has not disappeared, the currency is no longer experiencing the sharp swings seen in previous months.
However, the parallel market tells a different story. There, the naira trades significantly weaker, reflecting higher demand for dollars outside official channels. Bureau De Change operators report buying rates near ₦1,395 and selling prices that can exceed ₦1,400.
Experts say the gap between official and black market rates continues to highlight structural challenges in Nigeria’s forex system. While recent trends suggest some level of control, sustained stability will depend on improved dollar inflows, investor confidence, and consistent monetary policies in the coming months
