Naira Gains Slightly, Trades Around ₦1,345/$ as Forex Market Shows Stability

The Nigerian naira recorded a modest gain on Tuesday, April 21, 2026, maintaining stability in the foreign exchange market as authorities continue efforts to align official and parallel rates.

Early trading at the Nigerian Foreign Exchange Market (NFEM) showed the naira exchanging at an average of ₦1,345.47 to the dollar, a slight improvement from the previous day’s close. During the session, the currency briefly strengthened to ₦1,345.87 before settling, with interbank activity remaining robust.

The relative calm in the official market is being linked to consistent oversight by the Central Bank, alongside improved liquidity and a more transparent pricing framework.

Across the parallel market, the trend was similarly steady. In major cities including Lagos, Port Harcourt and Kano, the dollar traded within the ₦1,390 to ₦1,405 range. Although the gap between both markets persists, reduced volatility has made the informal segment more predictable for everyday users and small-scale traders.

Market watchers say the naira’s performance is being supported by renewed investor confidence, stronger external reserves, and increased foreign exchange inflows. These factors are helping to ease pressure on the currency while advancing efforts toward exchange rate convergence.

Overall, the outlook points to continued stability in the near term. Despite global dollar strength, the local market has shown resilience, giving businesses and individuals greater confidence in planning as the week unfolds.

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