Naira to Dollar official & black market rates today, Thursday, January 1, 2026

The Naira exchange rate opened 2026 on a calm note, showing relative stability against the United States Dollar across Nigeria’s foreign exchange market.

The Naira exchange rate continues to reflect moderate volatility as the Central Bank of Nigeria sustains reforms focused on liquidity, transparency, and improved market confidence.

Naira Exchange Rate at Official Market

At the Nigerian Foreign Exchange Market, the Naira exchange rate opened trading at an average of ₦1,445.99 to the US Dollar.

This performance followed a mild appreciation recorded in late December 2025, when the Naira exchange rate moved within the ₦1,445 to ₦1,470 band.

Market records show the final trading session of 2025 closed around ₦1,445.24, signalling a modest recovery from mid-December pressure levels.

Daily turnover at the official window remains crucial, as the Central Bank continues supplying dollars for “invisible” needs, including school fees and medical payments.

Naira Exchange Rate at Parallel Market

In the parallel market, the Naira exchange rate traded at a premium, a trend commonly associated with festive season demand.

The Dollar exchanged between ₦1,480 and ₦1,510, depending on transaction size and location.

Although the gap between official and street rates has narrowed compared to previous years, a difference of about three to five percent remains.

Traders link this spread to strong cash demand from travellers and small importers operating outside the formal exchange framework.

Economic Outlook for 2026

The Naira exchange rate outlook in 2026 remains closely tied to global oil prices and the effectiveness of ongoing monetary reforms.

Central Bank reports suggest foreign exchange pressures may ease further this year, supported by policies designed to attract investment and stabilise the currency.

Analysts believe sustained inflows could strengthen the Naira exchange rate, reduce arbitrage opportunities, and create a more predictable environment for businesses.

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