The Naira is showing continued strength and stability as trading opens today, Tuesday, April 21, 2026.
The gap between the official and parallel markets remains narrow compared to previous years.
Here are the latest exchange rates for today:
Official Market (NAFEM) Rate
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Exchange Rate: ₦1,345.47 per $1
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The official window (Nigerian African Foreign Exchange Market) saw the Naira open with a marginal appreciation from yesterday’s close. Early morning trading recorded a brief high of ₦1,345.87 before settling.
Black Market (Parallel) Rate
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Buying Rate: ₦1,390 – ₦1,395 per $1
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Selling Rate: ₦1,400 – ₦1,405 per $1
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In major hubs like Lagos (Allen Avenue/Bureau De Change), Abuja (Wuse Zone 4), and Kano, the Dollar is trading steadily. While there is a slight premium over the official rate, the extreme volatility has largely subsided.
Key Market Drivers Today
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Increased Liquidity: Market analysts credit the stability to improved dollar inflows from foreign portfolio investors and steady oversight by the Central Bank of Nigeria (CBN).
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Narrowing Gap: The current spread between the official and black market rates is approximately ₦50 – ₦60, signaling a move toward a more unified exchange rate structure.
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Positive Sentiment: Steady external reserves have bolstered confidence among small-scale importers and retail buyers who rely on informal channels.
Note: Exchange rates can fluctuate throughout the day based on demand and supply at different trading points. It is always advisable to confirm the final rate at your specific bank or local BDC before making transactions.
