…the naira opened trading at about ₦1,424.24 to the dollar.
ABUJA, NIGERIA- The iNews Times | Dollar trading saw the Nigerian naira hold steady in early dealings on Tuesday, January 13, 2026, as the local currency maintained a narrow range across both official and parallel markets.
At the Nigerian Foreign Exchange Market (NFEM), the naira opened trading at about ₦1,424.24 to the dollar. Real-time trading data show mild fluctuations during the morning session, with the exchange rate touching an intraday high of ₦1,425.56 and a low of ₦1,422.99.
This performance aligns with the previous week’s close, when the Central Bank of Nigeria (CBN) recorded a weighted average exchange rate of ₦1,424.27 on January 9. The relative calm suggests a consolidation phase as traders assess recent liquidity injections and monetary policy cues.
In the parallel market, commonly referred to as the black market, the dollar exchanged between ₦1,450 and ₦1,465 for cash transactions, depending on location and transaction size. Although the premium between the official and unofficial markets persists, the gap has continued to narrow.
Bureau De Change (BDC) operators in Lagos and Abuja reported moderate demand for the dollar, noting that speculative activity has eased compared to the heightened volatility seen at the end of 2025. However, seasonal travel and overseas school fee payments are still supporting demand.
Analysts say the naira’s trajectory in the weeks ahead will largely hinge on sustained dollar inflows into the NFEM and movements in global crude oil prices. Attention is also focused on the CBN’s foreign reserve position, which remains a key support for the local currency.
Although current rates point to a gradual recovery from the December 2025 peaks, the market remains highly responsive to changes in inflation data and shifts in international trade dynamics.
