The Nigerian Naira maintained a relatively stable position against the United States Dollar in the early hours of Tuesday, April 7, 2026, across both the official and informal foreign exchange markets. At the Nigerian Foreign Exchange Market (NFEM), the exchange rate opened at approximately ₦1,379.30 per dollar, showing a slight appreciation compared to the previous week’s closing rate.
In the parallel market, the dollar is trading around ₦1,405 to ₦1,415 for selling, with some traders quoting ₦1,412 to ₦1,425. The Central Bank of Nigeria (CBN) has maintained a high interest rate of 26.5% to combat inflation and attract foreign portfolio investors.
“The naira is expected to remain strong in the coming week, boosted by improved foreign exchange inflows and dollar sales to BDCs,” said a trader.
The spread between the official and parallel market rates currently sits at approximately ₦32, significantly lower than historical peaks. Analysts attribute this stability to the successful integration of Bureau De Change (BDC) operators into the official supply chain and ongoing reforms in the remittance sector.
