The Nigerian naira maintained relative stability against the United States dollar on Wednesday, April 29, 2026, across both the official and parallel foreign exchange markets, amid persistent demand pressures and cautious trading sentiment.
At the Nigerian Foreign Exchange Market (NFEM), the official window, the naira traded around ₦1,360 per dollar in early trading. Data showed the currency hovering near ₦1,360.19/$, reflecting only slight day-to-day movements.
This aligns with recent trends, where the naira has remained within the mid-₦1,350 to ₦1,360 range, supported by regulatory interventions and moderated demand at the official market.
In contrast, the parallel market recorded weaker performance, with the naira trading between ₦1,400 and ₦1,480 per dollar, depending on location and transaction volume.
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The disparity between the two markets continues to be driven by unmet demand for foreign exchange among importers, travellers, and individuals with limited access to official channels.
Analysts note that the current trend reflects a delicate balance, with relative stability in the official market and sustained pressure in the informal segment, which continues to absorb excess demand.
Overall, the naira’s performance today highlights resilience at the official window, even as broader supply challenges persist in Nigeria’s foreign exchange market.