Naira Holds Steady Against Dollar Today, March 23, 2026, Amid CBN Market Interventions

The Naira maintained a steady course against the US Dollar on March 23, 2026, as market activity at the Nigerian Foreign Exchange Market (NFEM) and in parallel channels reflects ongoing CBN interventions.

In the official market, the Dollar opened at around ₦1,356.74, following mid-March volatility between ₦1,344 and ₦1,370. Analysts report that the intraday peak reached ₦1,362, while the closing average stayed near ₦1,355.

“The EFEMS platform has been critical in stabilising the Naira, improving transparency, and curbing speculative pressure,” experts said.

On the parallel market, the Dollar continues to trade higher, between ₦1,410 and ₦1,430, though the premium over the official rate is narrower than in past years. The reintegration of licensed BDCs has allowed individuals to access foreign exchange for school fees, travel, and medical expenses through formal channels.

Supporting the Naira, Nigeria’s external reserves are near $50 billion, oil output remains steady, and inflation has eased to 15.10%. Banks meeting the CBN’s capital standards further strengthen market confidence, providing stability to the local currency.

Africans Angle News