The naira opened the week on a cautious note on Monday, April 13, 2026, recording slight swings against the US dollar across both official and parallel markets, as traders reacted to ongoing demand pressures and global economic signals.
In the Nigerian Foreign Exchange Market (NFEM), the official rate opened at about ₦1,358.84 per dollar.
It faced some initial pressure, dropping to around ₦1,362.08 per dollar, but then bounced back to near its opening rate.
Analysts credit the naira’s stability to ongoing interventions by the Central Bank of Nigeria (CBN), which has kept a tight grip on liquidity and enhanced regulatory oversight in the financial sector.
Conversely, the parallel market continues to show strong demand for the U.S. dollar, especially from small businesses and individuals.
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In key commercial cities like Lagos, Kano, and Abuja, the dollar was trading between ₦1,460 and ₦1,485.
Despite the naira’s relative steadiness in the official market, there are ongoing concerns about the significant difference between official and parallel market rates.
Financial experts caution that reducing this gap will largely depend on future fiscal reforms and important economic data releases.
Investor sentiment remains cautious due to global factors such as rising oil prices and geopolitical tensions in the Strait of Hormuz, a vital route for global crude supply.
As fluctuations in exchange rates continue to affect import costs and overall pricing, both households and businesses are keeping a close watch on the situation.
For the time being, analysts anticipate that the naira will trade within its current range in the short term.
