The naira closed the mid-week buying and selling session at N1,423/$ on the official overseas change market, extending a blended efficiency that contrasts sharply with sustained weak spot within the parallel market.
Information from the Central Bank of Nigeria (CBN) and Nairametrics Analysis exhibits that whereas the official market stays comparatively secure, pressures persist exterior the regulated window.
The hole between each FX home windows has narrowed barely however stays large, demonstrating ongoing market reforms and structural constraints in Nigeria’s forex market.
On the Nigerian Overseas Alternate Market (NFEM), the naira traded at N1,420.5/$ on Monday, strengthened marginally to N1,420/$ on Tuesday, earlier than depreciating to N1,423/$ on Wednesday.
The information signifies that whereas official charges present some convergence, the parallel market continues to expertise intense overseas change demand.
The information exhibits that the present parallel-market rally is the worst since mid-December 2025, when the naira fell to N1,492/$ on 17 December 2025.
This exhibits that regardless of temporary episodes of official market power, structural pressures proceed to dominate parallel market buying and selling.
International forex developments present further context for Nigeria’s FX dynamics.
The U.S. greenback held positive aspects towards main currencies after President Donald Trump withdrew threats to impose tariffs on a number of European NATO nations.
Earlier this week, the naira slipped marginally on the official overseas change market, closing at N1,420.5/$ on Monday, as world greenback sentiment softened amid renewed considerations over U.S. {economic} and geopolitical dangers.
