Dollar Trades at ₦1,340.88 as Naira Shows Signs of Stability

On Friday, April 17, 2026, the Nigerian naira maintained a relatively steady position against the United States dollar, following a week of modest fluctuations across both the official and parallel markets.

In the Nigerian Foreign Exchange Market (NFEM), the currency opened trading at ₦1,340.88 per dollar. This reflects a calmer trend compared to earlier in the month, when increased import demand weighed on the naira. Data suggests that Central Bank liquidity support and recent interventions have contributed to improved stability within the official market.

Meanwhile, the parallel market continues to reflect stronger demand pressures, with traders in Lagos and Abuja offering the dollar at higher rates than the official window. Despite a notable reduction in the spread between both markets over the past year, driven by ongoing reforms, the informal market remains a vital source of foreign exchange for many Nigerians.

Analysts say the naira’s current performance is supported by higher crude oil production and enhanced transparency in exchange rate determination within the NFEM. However, they warn that external factors such as global inflation and U.S. interest rate changes could still impact the currency’s outlook.

For those buying or selling foreign exchange today, staying updated on intraday movements is crucial, as supply dynamics continue to influence pricing. Bureau De Change operators add that although liquidity conditions have improved, demand for the dollar remains elevated as economic activity picks up in the second quarter.

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