Naira shows mild fluctuations against the dollar in official and parallel markets, supported by CBN policies and foreign portfolio inflows
The Naira recorded slight fluctuations but remained relatively stable against the US dollar across official and parallel markets, with a noticeable gap between the two trading segments.
Trading opened at N1,367.18 per dollar in the official market and weakened marginally to N1,372.21 early in the day, reflecting a 0.37 per cent depreciation.
Meanwhile, parallel market rates ranged between N1,395 and N1,410, depending on transaction volume in key cities such as Lagos and Abuja.
Analysts attribute the stability to sustained high interest rates and foreign portfolio inflows, which have boosted forex supply and helped limit sharp depreciation.
The Central Bank of Nigeria (CBN) has also intervened to ensure liquidity in the market and reduce speculative pressures.
Market observers note that the gap between the official and parallel markets has narrowed considerably.
CBN Governor Olayemi Cardoso reported that the premium between the two markets has fallen from about 50 per cent in 2022 to under 2 per cent on average in 2025, reflecting improved liquidity and investor confidence.
For traders and importers, the naira’s performance signals a steady supply of dollars, though analysts caution that exchange rates may adjust further as trading continues throughout the day across different financial centres.
The current trends indicate a balance between retail demand in the parallel market and institutional activity in the official window, underpinning the currency’s resilience amid ongoing economic pressures.
