Naira edges lower on January 22, 2026, as forex demand rises; official and parallel markets show mild depreciation amid midweek liquidity pressures
The Nigerian naira experienced a modest depreciation in early trading on Thursday, as foreign exchange activity increased amid typical midweek liquidity pressures.
Market participants noted minor shifts in both official and parallel markets, signalling that the ongoing price-discovery process remains in progress.
At the Nigerian Foreign Exchange Market (NFEM), the naira opened at ₦1,419.37 per US dollar and softened slightly to ₦1,421.33 by mid-morning, a decline of approximately 0.14%.
Analysts described the movement as a minor correction after earlier gains, with corporate demand being balanced against available supply from the Central Bank of Nigeria (CBN).
In the parallel market, the dollar exchanged between ₦1,482 and ₦1,495 in major trading hubs, reflecting steady retail demand from small-scale importers.
The narrow premium between official and parallel rates suggests government measures to harmonise exchange rates continue to stabilise the market.
Market watchers will monitor end-of-week trading to determine whether the naira can reclaim footing below ₦1,420.
With forecasts pointing to lower inflation and a positive balance of payments, the currency is expected to remain broadly resilient despite temporary fluctuations.
