The Nigerian naira maintained relative stability against the United States dollar on Wednesday, April 29, 2026, across both the official and parallel foreign exchange markets, amid persistent demand pressures and cautious trading sentiment.
At the Nigerian Foreign Exchange Market (NFEM), which serves as the official window, the naira traded around ₦1,360 per dollar in early trading, reflecting only slight movements from the previous session. Recent data showed the currency hovering near ₦1,360.19/$, indicating marginal day-to-day fluctuations as market forces seek balance.
The gap between the official and parallel market rates persists, driven largely by unmet dollar demand from importers, travellers, and individuals who face limited access to foreign exchange through formal banking systems.
Analysts say the current trend reflects a delicate balance in the foreign exchange market, with the official segment showing relative stability while the informal market continues to absorb excess demand.
Overall, the naira’s performance on April 29 suggests continued resilience at the official window, even as pressure remains in the parallel market segment.
