Naira to Dollar rate today, Wednesday, March 25, 2026 as Naira appreciates
The Nigerian Naira opened mid-week trading at about ₦1,375/$1 on Wednesday, showing a slight recovery after earlier losses, as liquidity in the foreign exchange market began to improve.
The local currency gained modest ground during early trading hours, offering a bit of relief after Tuesday’s volatility, when it weakened to around ₦1,390/$1 before rebounding.
Official Market Shows Early Stability
At the official Nigerian Foreign Exchange Market (NFEM), the Naira recorded a mild appreciation as trading progressed. It opened near ₦1,375.26 and edged to about ₦1,375.61 by mid-morning.
Traders say the improved performance is linked to increased dollar inflows from exporters. Many are converting their earnings to meet month-end financial obligations.
The Central Bank of Nigeria (CBN) also continues to monitor market activity closely through its Electronic Foreign Exchange Matching System, helping to maintain transparency and order.
Parallel Market Remains Steady
In the parallel market, commonly used by individuals and small businesses, the exchange rate remained relatively stable.
Across major cities like Lagos and Abuja, the dollar traded between ₦1,420 and ₦1,435. Although higher than the official rate, the gap has not widened significantly.
Market watchers note that this steady premium suggests reduced speculative pressure despite earlier demand spikes this week.
Bureau De Change operators also report consistent demand for travel and remittances. However, improved dollar supply through official channels has helped to prevent sharp fluctuations.
Key Drivers Behind Naira Movement
Several factors are influencing the Naira’s performance:
Month-End Demand:
Companies typically increase dollar demand toward the end of the month to settle international payments. This demand is currently balanced by better liquidity.
External Reserves:
Nigeria’s foreign reserves, estimated at just under $50 billion, continue to support the currency and provide room for intervention when needed.
Crude Oil Earnings:
Strong oil prices above $100 per barrel and stable production levels are boosting foreign exchange inflows and strengthening confidence in the market.
Market Outlook for the Week
Analysts expect the Naira to trade between ₦1,370 and ₦1,390 in the coming days.
They believe recent reforms and improved rate convergence have made the market more stable. Foreign investors are also watching ongoing banking sector reforms as a sign of future economic strength.