The naira traded on a relatively stable note against the United States dollar in early transactions on Tuesday, April 7, 2026, across both official and informal foreign exchange markets.
At the Nigerian Foreign Exchange Market (NFEM), the currency opened at about ₦1,379.30 per dollar, reflecting a slight gain compared to last week’s closing figures.
Early trading data showed the rate moving within a narrow band, with a high of ₦1,380.10 and a low of ₦1,378.70.
The steady performance follows mild fluctuations recorded toward the end of March. Analysts attribute the current stability to recent interventions by the Central Bank of Nigeria (CBN) and improved interbank liquidity, which have helped balance demand and supply as the second quarter begins.
In the parallel market, commonly referred to as the black market, the dollar traded at around ₦1,379.10, indicating a minimal gap with the official rate.
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This convergence is seen as a reflection of ongoing exchange rate unification efforts, which have significantly reduced opportunities for arbitrage.
Market watchers are now focusing on upcoming policy signals from the central bank, as well as developments in futures contracts, which are expected to influence the naira’s direction in the coming months.
For now, the local currency appears to be holding steady despite broader global economic pressures.
