The naira weakened barely to N1,431 per greenback on the official international trade market on the primary buying and selling day of 2026, reflecting a gentle pullback after ending 2025 on a powerful observe.
That is based on information tracked by Nairametrics from the Nigerian Overseas Trade Market (NFEM) for buying and selling on Friday, January 2, 2026.
The depreciation comes because the FX market reopened after the New Yr vacation, with early indicators of cautious sentiment resurfacing amongst market members.
Information reveals the foreign money slipped from N1,429/$1 recorded on Wednesday, December 31, 2025, the ultimate buying and selling session of final yr.
Though marginal, the motion marks a pause within the naira’s latest appreciation development that dominated the closing days of 2025.
The info reveals the naira depreciated by N2 on a day-on-day foundation, closing at N1,431/$1 on January 2, 2026, in comparison with N1,429/$1 on the finish of 2025.
This represents a modest weakening of about 0.14%.
A evaluate of latest buying and selling classes signifies that the naira has proven notable resilience towards year-end.
It traded at N1,445/$1 on Tuesday, December 30, and N1,446.4/$1 on Monday, December 29, earlier than firming additional within the ultimate days of the yr.
On December 24, 2025, the foreign money exchanged at N1,451/$1, highlighting a gradual however constant appreciation heading into the yr’s shut.
Regardless of the slight dip at first of 2026, the naira closed 2025 with a powerful annual efficiency.
At N1,429/$1 on December 31, the foreign money recorded a 7.4% appreciation in comparison with the N1,535/$1 charge seen on the ultimate buying and selling day of 2024.
The year-end energy was largely supported by sustained international trade reforms, improved worth discovery on the official market, and intermittent FX inflows from exporters and international portfolio buyers.
As well as, tighter alignment between official and parallel market charges helped scale back speculative pressures towards the tip of the yr.
In a broader perspective, the naira’s present stage nonetheless represents an enchancment from the beginning of 2025.
Information reveals that on the primary buying and selling day of 2025, January 2, the naira traded at N1,538.50/$1 on the official market, demonstrating how far the foreign money has strengthened over the previous yr.
Market analysts observe that the modest depreciation at first of 2026 is just not uncommon, as pent-up demand typically re-emerges after prolonged public holidays.
“The naira’s relative stability in latest weeks means that volatility might stay restricted within the close to time period,” Dotun Adedira, an Abuja-based market analyst, stated.
The naira’s efficiency will probably be influenced by Central Bank of Nigeria (CBN) coverage course, world oil worth tendencies, and the tempo of international trade inflows.
If FX provide improves and coverage consistency is maintained, analysts consider the foreign money might maintain its latest stability within the early months of 2026.
