The Nigerian Naira maintained its momentum in the foreign exchange market on Tuesday, April 21, 2026, as trading opened with a focus on narrowing the gap between official and informal rates. Following a relatively stable start to the week, the local currency continues to benefit from steady oversight within the official window and a balanced supply of foreign exchange.
In the Nigerian Foreign Exchange Market (NFEM), the Naira was quoted at an average rate of 1345.47 per Dollar during early morning operations. This reflects a marginal appreciation compared to the closing figures of the previous session. Market data indicates that the Naira touched a brief high of 1345.87 before settling, as interbank turnover remains healthy. The continued stability in the official window is largely credited to the Central Bank’s ongoing commitment to a transparent price discovery process and sufficient liquidity for eligible transactions.
The parallel market has mirrored this trend of relative calm. In major trading hubs across Lagos, Port Harcourt, and Kano, the Dollar is being exchanged at rates ranging between 1390 and 1405 per Dollar. While the black market still carries a premium, the volatility that once characterized this segment has notably subsided, providing a more predictable environment for retail buyers and small-scale importers who rely on informal channels.
For the public and business community, today’s rates indicate a continued period of consolidation. While the global strengthening of the U.S. Dollar remains a factor to watch, the local market’s ability to absorb demand without significant spikes provides a layer of confidence for economic planning as the third week of April unfolds.
