The Nigerian Naira began trading on Monday, April 20, 2026, with a modest decline across segments of the foreign exchange market, reflecting continued demand for the United States Dollar.
At the Nigerian Foreign Exchange Market, the currency was quoted at an average of 1347.33 per Dollar in early trading, indicating a slight depreciation compared to last week’s closing rate. Traders attributed the movement to increased demand pressures observed at the start of the week, despite ongoing liquidity management by the Central Bank.
In the parallel market, rates remained higher than the official window but relatively stable. Across key commercial centres such as Lagos, Kano, and Abuja, Bureau De Change operators quoted the Dollar at about 1395 for buying and 1405 for selling.
The narrowing gap between official and informal market rates continues to reflect gradual improvements in foreign exchange supply, with traders noting that current liquidity levels are meeting much of the retail demand.
Market analysts say the Naira’s performance is being shaped by both domestic policy measures and global economic trends. Stable crude oil prices have supported Nigeria’s external reserves, helping to moderate volatility in the exchange rate.
However, the slight pressure recorded in the official market underscores the persistent demand for foreign currency, driven by import requirements and international transactions.
Stakeholders, particularly businesses and investors, are advised to monitor daily rate movements closely, as the market continues to adjust within a broader framework aimed at achieving a more unified and sustainable exchange rate system.
