During early morning trading today, March 26, 2026, the Nigerian Naira showed a combination of stability and slight fluctuations against the US dollar. The tug-of-war between increased liquidity from foreign portfolio inflows and the ongoing pressure of diminishing external reserves is reflected in market performance.
BrandSpur banking and finance news desk reports that the Naira began trading at ₦1,385.46 per dollar on the Nigerian Foreign Exchange Market (NFEM). Real-time data shows that the rate slightly increased in the early hours, reaching ₦1,384.39 by 10:00 AM. This comes after the local currency had a rough start to the week, losing a lot of ground on Monday before gaining some value on Tuesday and Wednesday.
A recent increase in foreign exchange inflows is supporting the relative stability observed today. Total foreign exchange inflows increased 45% month over month to about $4.4 billion in February, according to FMDQ reports. This trend continued into late March. High-yield investment opportunities in Nigeria, according to analysts, continue to draw offshore “carry trade” investors, giving the official window much-needed liquidity.
Continuing, the Naira maintained its position against the Greenback in the parallel market, also known as the “black market.” The dollar was quoted at an average of ₦1,415 for selling and ₦1,405 for buying in major hubs like Lagos (Broad Street) and Abuja (Wuse Zone 4).
Currently, the difference between the official and parallel market rates is about ₦31. Even though the gap has slightly widened from the ₦27 earlier in the week, it is still much smaller than the triple-digit spreads observed in prior years. One of the main goals of the Central Bank of Nigeria’s (CBN) ongoing market unification reforms is still this convergence.
