Nigerian Naira recorded slight fluctuations against the United States Dollar on Monday, April 13, 2026, across both the official and parallel foreign exchange markets.
At the Nigerian Foreign Exchange Market (NFEM), the Naira opened trading at approximately N1,358.84 per dollar. The currency experienced mild volatility in early transactions, briefly weakening to about N1,362.08 before stabilising close to its opening rate.
Analysts attributed the relative stability to ongoing liquidity management measures by the Central Bank of Nigeria (CBN), which continues to oversee market activity and support the banking system.
In the parallel market, commonly referred to as the black market, the Naira traded at significantly higher rates due to sustained demand for foreign exchange among individuals and small businesses.
Market sources in key commercial centres, including Lagos, Kano, and Abuja, reported the dollar exchanging between N1,460 and N1,485.
Financial experts noted that the persistent gap between the official and informal market rates remains a concern, with expectations that any convergence will depend on fiscal policy adjustments and forthcoming economic data.
Market sentiment, they added, remains cautious amid global developments, including rising oil prices and geopolitical tensions around the Strait of Hormuz.
They further observed that exchange rate movements continue to have a direct impact on the cost of imports, transportation, and general pricing, making the forex market a critical factor in both household and corporate financial planning.
While trading volumes remained steady, analysts projected that the Naira would likely trade within its current range for the rest of the session.
