Nigeria’s currency, the naira, recorded modest stability against the United States dollar on Friday, March 27, 2026, trading around ₦1,350–₦1,370 at the official market.
At the Nigerian Foreign Exchange Market (NFEM), the naira hovered close to ₦1,356 per dollar, showing only slight movements throughout the day. This reflects a period of relative calm compared to earlier fluctuations seen in previous weeks.
Data from March indicates that the currency has maintained a narrow range, mostly between ₦1,360 and ₦1,380, suggesting short-term stability at the official window. Analysts link this trend to ongoing efforts by monetary authorities to manage liquidity and stabilize the market.
However, a different picture remains in the parallel market, where demand for foreign currency continues to push rates higher. Across major cities like Lagos and Abuja, the dollar was sold between ₦1,400 and ₦1,420, depending on location and transaction volume.
This gap between the official and parallel markets highlights persistent pressure on the naira, largely driven by limited dollar supply and increasing demand from importers and individuals.
Experts attribute the current stability at the official market to improved foreign reserves, consistent interventions, and global oil price trends. Still, they caution that underlying demand pressures remain strong.
While the steady performance offers some level of relief, analysts say achieving full alignment between both markets will require stronger liquidity, clear policy direction, and broader economic reforms.
