The Nigerian Naira began the new trading week on a mixed note, recording slight fluctuations against the United States Dollar across key segments of the foreign exchange market on Monday, April 13, 2026.
At the official window, the Nigerian Foreign Exchange Market (NFEM), the local currency opened at about N1,358.84 per Dollar. Early trading data showed minor volatility, with the Naira weakening briefly to N1,362.08 before rebounding toward the N1,358 range. The movement reflects a largely stable trend, supported by the Central Bank of Nigeria’s continued management of system liquidity.
In contrast, the parallel market maintained higher exchange rates, driven by sustained demand for foreign currency among individuals and small businesses. Checks from currency traders in major commercial hubs such as Lagos, Kano, and Abuja showed the Dollar trading between N1,460 and N1,485.
The gap between official and black market rates continues to draw attention from analysts, particularly as stakeholders anticipate policy adjustments aimed at narrowing the spread.
Investor sentiment remains cautious, with attention focused on upcoming economic data and any potential intervention by monetary authorities. For households and businesses alike, the exchange rate remains a key determinant of costs, especially for imported goods and logistics.
As of 6:39 a.m. WAT, trading activity was steady, with market watchers projecting that the Naira will likely trade within its current band throughout the day.
