The Nigerian Naira recorded a steady performance against the United States Dollar in early trading on Friday, April 10, 2026, holding firm across both the official and parallel market segments.
At the Nigerian Foreign Exchange Market, the official trading window, the local currency opened at about ₦1,361.75 per Dollar. Early activity showed limited volatility, with the Naira briefly strengthening to around ₦1,360.75 before returning to its opening level, indicating a relatively calm trading environment.
Market observers attribute the stability to ongoing interventions by the Central Bank of Nigeria aimed at improving liquidity and maintaining balance in the foreign exchange market.
In contrast, the parallel market, also known as the black market, reflected stronger demand for foreign currency. Checks with Bureau De Change operators in Lagos and Abuja showed the Dollar trading between ₦1,450 and ₦1,470, depending on transaction size and location.
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The gap between official and parallel market rates continues to raise concerns among investors and businesses reliant on foreign exchange access. Analysts link the current official market stability to sustained policy measures and a slight increase in foreign exchange inflows.
However, demand pressures driven by travel needs, school fees, and import payments continue to weigh on the Naira, particularly in the parallel market.
