The Naira continues its week-long rally this Friday, April 17, 2026, maintaining a strong position as market liquidity improves and speculators pull back following the latest inflation data.
Official Exchange Rate (NAFEM)
The official window shows the Naira holding steady below the ₦1,350 mark, a level it reclaimed earlier this week.
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Opening Rate: ₦1,340.88 – ₦1,342.15 per $1
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Previous Close (Thursday): ₦1,343.41
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Market Trend: The Central Bank’s consistent supply of FX to authorized dealers has helped stabilize the rate, even as the National Bureau of Statistics (NBS) reported a rise in headline inflation to 15.38%.
Black Market (Parallel Market) Rate
In the unofficial market, the Naira is trading with minimal volatility as demand for the Greenback remains moderate.
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Buying Rate: ₦1,380 – ₦1,385
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Selling Rate: ₦1,390 – ₦1,398
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Note: Rates may vary slightly depending on the location (Lagos, Abuja, or Kano) and the volume of the transaction.
Factors Influencing the Rate Today
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Inflation Impact: While inflation rose to 15.38% in March, the currency has not yet devalued significantly, as investors had already “priced in” the increase.
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Aviation Fuel Crisis: Market analysts are watching the aviation sector closely. If domestic airlines proceed with their April 20 shutdown due to Jet A1 prices hitting ₦3,300 per litre, it could signal broader economic distress that might affect FX sentiment.
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Refinery Output: Increased local production of refined petroleum products continues to reduce the massive Dollar demand typically required for fuel imports.
