As the currency keeps a tight range against the US dollar on both the official and black markets, the Nigerian Naira has demonstrated relative stability in the early hours of trading today, Tuesday, January 13, 2026.
The Naira began trading at about 1,424.24 per dollar, while the Pound Sterling opened at ₦1,901.49 and is currently trading at a mid-market rate of approximately ₦1,917.87, representing a marginal increase of 0.01% from the previous day’s close of ₦1,917.74, on the Nigerian Foreign Exchange Market (NFEM). The trading platform’s real-time data indicates that the rate between Naira to the U.S. dollar has varied slightly during the morning session, peaking at 1,425.56 and falling to 1,422.99.
The Central Bank of Nigeria (CBN) recorded a weighted average rate of 1,424.27 on January 9 for dollar, which is consistent with the closing figures from the previous week. As market participants process recent liquidity injections and monetary policy signals, the current stability points to a period of consolidation
BrandSpur banking and finance news desk reports that currently, the exchange rate for cash transactions on the black market, or parallel market, ranges from 1,450 to 1,465 per dollar, depending on the trade volume and location. For pounds on the otherhand in Lagos and Abuja, the buying rates starting at ₦1,965 and selling rates reaching as high as ₦1,980. This illustrates the ongoing, albeit closing, divide between the market’s official and black market sectors.
While speculative pressure has subsided in comparison to the year-end volatility of 2025, demand for the greenback is still driven by holiday travel and school fee payments, according to Bureau De Change (BDC) operators in major hubs like Lagos and Abuja.
According to economic analysts, the stability of the dollar supply to the NFEM and the movement of crude oil prices globally will have a significant impact on the Naira’s performance in the upcoming weeks. Additionally, the CBN’s foreign reserves, which act as a vital buffer for the local currency, are being closely watched by investors.
The market is still vulnerable to changes in domestic inflation data or global trade balances, even though the current rates show a slight recovery from the peak reached in December 2025.
