Naira to Dollar official/black market rates today, Wednesday, February 11, 2026
The Nigerian naira sustained its upward movement against the United States US dollar on Wednesday, February 11, 2026, trading around ₦1,355 in the official market.
The local currency remained steady in the Nigerian Foreign Exchange Market (NFEM), extending the stability that has defined trading activities for most of the month.
Official Market Holds Firm
At the NFEM, the naira opened at about ₦1,353.25 to the dollar.
During early trading, it recorded slight movements, touching a high of ₦1,359.83 before settling at a mid-morning average of ₦1,355.46.
This performance followed Tuesday’s close, when the currency held firm around the ₦1,353 level.
Market observers link the steady performance to improved liquidity management by the Central Bank of Nigeria (CBN).
They also point to the growing impact of the Electronic Foreign Exchange Matching System (EFEMS), which has enhanced transparency and faster price discovery.
Analysts say the system has helped reduce delays in dollar allocation for businesses.
As a result, the average exchange rate has eased from the ₦1,400 range recorded in late January.
Parallel Market Reflects Stability
The parallel market also showed signs of stability, although rates remained higher than the official window.
In Lagos, Abuja and Kano, Bureau De Change operators quoted the dollar between ₦1,425 and ₦1,440.
Traders noted that the black market rate has softened slightly, reflecting the naira’s strength in the official market.
The gap between both markets is now among the narrowest seen in recent months.
Dealers attributed this to reduced speculative demand and improved availability of retail foreign exchange.
They added that demand for travel and small business needs is being met without placing heavy pressure on supply.
Key Trading Figures
NFEM Opening Rate: ₦1,353.25
NFEM Mid-Morning Average: ₦1,355.46
Parallel Market Range: ₦1,425 – ₦1,440
Financial analysts remain cautiously optimistic about the days ahead.
They expect the naira to trade within the ₦1,350 to ₦1,365 range for the rest of the week.
With external reserves showing signs of improvement, the local currency appears positioned to maintain its current strength through mid-February.
