Naira to Dollar official/black market rates today, Wednesday, January 21, 2026

Nigeria’s currency, the naira, held steady against the United States dollar at around ₦1,420 per dollar in the official market during mid-week trading, reflecting growing confidence in the Central Bank of Nigeria’s 2026 macroeconomic outlook.

The calm performance across both official and parallel markets suggests easing pressure as economic activities for the year gather momentum nationwide.

Official Market Shows Calm Movement

At the Nigerian Foreign Exchange Market, the naira recorded only slight movements while remaining within a narrow and controlled range.

The currency opened trading at about ₦1,419.29 to the dollar before settling around ₦1,419.77 during early price discovery.

This level closely matched the previous session’s closing rate, which hovered near the ₦1,420 mark.

Analysts attribute the steady performance to improved foreign exchange supply and the CBN’s continued push for transparency in price discovery.

They also note that confidence has been boosted by projections that Nigeria’s external reserves could rise above $50 billion later in the year.

Parallel Market Holds Within Range

At the parallel market, the dollar traded slightly higher than official rates but remained within a manageable margin.

Across key cities such as Lagos, Abuja and Kano, exchange rates ranged between ₦1,480 and ₦1,485 per dollar.

Bureau de Change operators reported moderate demand linked to travel and small business needs, without the intense speculation seen in past years.

Improved diaspora remittances and more predictable inflows through banks are helping to reduce pressure on the informal market.

Investor Confidence Grows

Financial experts say the absence of panic buying reflects renewed trust in policy direction and economic planning.

Unlike previous January periods marked by volatility, the market has so far remained relatively calm.

This shift is linked to clearer communication from the central bank and expectations of stronger macroeconomic fundamentals.

Outlook Remains Cautiously Positive

Looking ahead, analysts remain cautiously optimistic about the naira’s prospects for the rest of the year.

Inflation is projected to ease to about 12.94 percent, while real GDP growth is expected to reach 4.49 percent.

Improved crude oil production and a projected balance of payments surplus are also providing support for the local currency.

However, observers warn that global oil prices and domestic output levels will remain key factors shaping foreign exchange liquidity.