The Nigerian Naira maintained its resilient posture against the United States Dollar as the second week of February 2026 commenced. Trading data from Monday morning indicates that the local currency is continuing its recent trend of stability, supported by consistent policy measures and healthy external reserve positions.
Official Market Trends
In the Nigerian Foreign Exchange Market (NFEM), the Naira opened the week with a slight gain, trading at approximately 1,363.84 per dollar. This follows a closing rate of 1,366.96 observed on Friday, representing a marginal appreciation as the market resumes full activity.
The parallel market, or informal sector, has mirrored the stability seen in the official window. In major commercial hubs such as Lagos, Abuja, and Kano, Bureau De Change operators are quoting the dollar within a range of 1,440 to 1,455.
While the informal market continues to trade at a premium, the spread remains significantly lower than the volatility witnessed in late 2025. Traders indicate that retail demand for small-scale imports and personal travel is being adequately met by current supply levels. The absence of speculative pressure at the start of the week suggests that the CBN’s strategy to channel corporate demand toward the official window is continuing to yield results, preventing sharp intraday spikes in the black market.
Summary of Opening Rates
- NFEM (Official) Opening: 1,363.86
- NFEM (Official) Current: 1,363.84
- Parallel Market Range: 1,440 – 1,455
As the week progresses, investors and market watchers will be monitoring the volume of foreign exchange inflows to determine if the Naira can break below the 1,360 support level. The current economic outlook for February remains positive, with the Naira expected to maintain its defensive stance against the greenback.
