Naira to Dollar exchange rate today, Wednesday, April 8, 2026

Nigeria’s currency market opened Wednesday on a slightly positive but cautious note, with the Naira trading at ₦1,382.04 per Dollar at the official window, reflecting mild gains amid ongoing volatility.

Naira showed early signs of recovery against the United States Dollar, even as trading conditions remained unstable.

Market activity at the Nigerian Foreign Exchange Market (NFEM) indicated a small improvement from earlier levels, offering brief relief to traders watching the Naira’s performance.

Official Market Shows Mild Recovery

At the official window, the Naira strengthened marginally from its earlier position of ₦1,383.34 recorded at the start of trading.

During the session, the currency briefly weakened to a high of ₦1,383.50 before rebounding to its current level.

This slight appreciation suggests that recent liquidity efforts and possible interventions by the Central Bank are beginning to have a stabilising effect.

However, the market remains sensitive to external pressures, particularly fluctuating oil prices and sustained demand for foreign exchange.

Parallel Market Remains Under Pressure

In contrast, the parallel market continues to reflect stronger demand for the Dollar. Across key trading centres such as Lagos and Abuja, Bureau De Change operators quoted rates between ₦1,410 and ₦1,425 per Dollar.

This persistent gap between official and black market rates remains a major concern.

Analysts note that the wider the spread, the greater the impact on inflation and the overall cost of goods and services.

Uncertain Outlook for the Naira

Market participants are keeping a close watch on potential policy moves from the Central Bank of Nigeria in the coming days.

While the Naira has shown slight resilience at the official window, pressure from the parallel market could still weigh heavily on its trajectory.

For now, businesses, travellers, and investors are advised to stay alert, as late trading activities and foreign exchange supply could still influence the final closing rate for the day.