The United States dollar closed Thursday, 15 January, with no fresh movement against the Nigerian naira across both the official and parallel foreign exchange markets, reinforcing a short-term period of stability, according to data from the NGNToday platform.
At the official exchange window, the dollar traded at N1,419, unchanged from the rate recorded on Wednesday, 14 January. The flat close reflects balanced activity within the regulated market, where pricing has remained largely anchored in recent sessions.
In the black market, the dollar also settled at a steady N1,487 on Thursday. While the rate showed no day-on-day change, it represented an improvement from the previous session’s N1,495, indicating that earlier pressure in the informal market has begun to ease.
A closer look at the data shows a narrowed premium of N68 between the official and parallel markets, down from N76 a day earlier. This contraction suggests reduced speculative demand and improved currency availability outside official channels.
Market observers note that the dollar’s performance reflects consolidation rather than momentum. The absence of volatility points to cautious positioning by traders, as participants assess the sustainability of recent gains and await clearer policy and liquidity signals.
For businesses and individuals reliant on the dollar, particularly importers, manufacturers, and those settling overseas payments, the current pricing environment offers short-term predictability.
However, analysts caution that the stability may be temporary, as global economic developments and domestic FX supply conditions continue to influence market direction.
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