Naira to Dollar official & black market rates today, January 2, 2026
The Nigerian naira began the first full trading Friday of 2026 on a steady note across both official and informal foreign exchange markets, signalling a calm start to the year.
Market observers are assessing early trends as the Central Bank of Nigeria continues reforms aimed at improving price discovery and narrowing gaps between exchange market segments.
Official Market Performance
At the Nigerian Foreign Exchange Market, the naira traded steadily against the United States dollar during early hours on Friday.
As of the morning of January 2, 2026, official market data placed the exchange rate at about ₦1,446.62 to the dollar.
This stability extends a gradual recovery recorded by the local currency over recent months.
Over the past year, the naira has gained roughly 6.43 per cent at the official window, recovering from record lows near ₦1,717.50 seen in late 2024.
Traders are paying close attention to liquidity conditions as holidays end and corporate demand for foreign exchange gradually returns.
Parallel Market Trends
The informal market continues to trade at slightly higher rates, reflecting short-term retail demand and cash-based transactions.
Despite this difference, operators say the gap between the official market and the parallel segment has reduced noticeably.
This narrowing spread is linked to improved transparency at the official window and sustained interventions by monetary authorities.
Economic Outlook and Key Drivers
Several developments are shaping currency movement at the start of the year.
Nigeria’s foreign reserves remain stable, giving the Central Bank room to manage sudden market swings.
Oil earnings also continue to support the naira, as production levels and global crude prices remain relatively steady.
Investors are now focused on the first Monetary Policy Committee meeting of 2026 for signals on interest rates and inflation control.
Analysts expect limited volatility in the short term, although full business resumption next week may offer clearer direction for the naira in the first quarter.
