The Nigerian Naira traded relatively steady against the United States Dollar in early trading on Friday, April 10, 2026, showing slight stability in the official foreign exchange market.
At the Nigerian Foreign Exchange Market (NFEM), the Naira opened at approximately N1,361.75/$, reflecting minimal movement compared to previous sessions. Early trading also saw a brief appreciation to around N1,360.75/$ before settling back near its opening level.
This stability has been linked to ongoing efforts by the Central Bank of Nigeria to manage liquidity and reduce volatility in the forex market.
In the parallel market, however, the story remains different. The Dollar is being exchanged between N1,450 and N1,470, depending on location and transaction size, according to Bureau De Change operators in Lagos and Abuja.
The wide gap between official and black market rates continues to raise concerns among businesses and investors who rely heavily on foreign exchange for imports, travel, and school fees.
Despite the slight calm in the official market, demand pressure remains high, driven by import obligations and limited Dollar supply.
As of early morning trading hours, market participants remain cautious, watching closely to see how the Naira will perform as the week progresses.
