The Nigerian Naira maintained relative stability against the United States Dollar in early trading on Thursday, April 9, 2026, holding close to ₦1,379.50/$ at the official market.
Data from the Nigerian Foreign Exchange Market showed the local currency recorded a slight gain at the start of the session, improving marginally from an early low of ₦1,378.98.
The Naira hovered around the ₦1,379 mark, signalling a period of gradual consolidation within the official window. Market analysts linked the steady performance to continued regulatory oversight and a modest rise in foreign exchange inflows.
Trading activity during the morning session remained balanced, with the currency briefly reaching an intraday high of ₦1,380.00 before easing. Consistent dollar supply to banks helped to moderate volatility and support market stability.
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In contrast, the parallel market reflected stronger demand pressures. Reports from Bureau De Change operators in key cities, including Lagos, Kano, and Port Harcourt, placed the exchange rate between ₦1,415 and ₦1,430 per dollar.
The higher rates in the informal market continue to be driven by retail demand and small businesses seeking quick access to foreign currency outside official channels.
Despite the gap between both markets, the spread has remained relatively stable, offering some level of predictability for businesses managing short-term financial obligations.
Analysts will be watching closely to see whether the Naira can sustain support around the ₦1,379 level as trading progresses through the day.
