Naira to Dollar exchange rate today, Wednesday, April 29, 2026

The Nigerian naira showed relative stability against the United States dollar on Wednesday, April 29, 2026, trading at about ₦1,360 per dollar across both the official and parallel foreign exchange markets, despite ongoing demand pressures and cautious market sentiment.

At the Nigerian Foreign Exchange Market (NFEM), the official window, the naira exchanged around ₦1,360 to the dollar in early trading, reflecting only slight changes from the previous session.

Recent figures placed the currency near ₦1,360.19/$, highlighting minor day-to-day fluctuations as the market continues to find balance.

This performance is consistent with the recent trend, where the naira has hovered within the mid-₦1,350 to ₦1,360 range, supported by sustained interventions and moderated demand at the official window.

In the parallel market, commonly referred to as the black market, the naira remained weaker due to stronger demand for foreign currency outside official channels.

Exchange rates were reported between approximately ₦1,400 and ₦1,480 per dollar, depending on location and transaction size.

The gap between the official and parallel market rates continues, largely driven by unmet dollar demand from importers, travellers, and individuals with limited access to foreign exchange through formal banking systems.

Analysts note that the current situation reflects a delicate balance in the foreign exchange market, with the official segment maintaining relative stability while the informal market absorbs excess demand.

Overall, the naira’s performance on April 29 indicates continued resilience at the official window, even as pressure persists in the parallel market.