Dollar to Naira Exchange Rate Today

The naira held a steady but cautious line against the US dollar in early trading on Wednesday, January 7, 2026, as the market eased back into normal activity after the festive season.

Data from the Nigerian Foreign Exchange Market (NFEM) and informal market checks suggest the currency is trading in a calmer range compared to the sharper swings seen in past months.

Official Market (NFEM)

At the official window, the naira opened at around ₦1,432 per $1. This is slightly weaker than earlier levels in the week, when rates were closer to ₦1,428 per $1.

Market watchers link the mild adjustment to renewed demand from businesses returning to full operations, especially companies restocking and paying for imports at the start of the year.

Parallel Market (Black Market)

In the parallel market, the dollar continued to trade at a premium. Traders in key hubs such as Lagos and Abuja reported buying rates around ₦1,485 to ₦1,500 per $1 during the morning.

While the gap between the official and parallel rates remains, traders say it appears more stable than the heavy volatility recorded in previous quarters.

What to Watch Next

Attention is now shifting to the Central Bank’s next moves for Q1 2026, particularly whether FX supply to authorised dealers will increase to meet the expected rise in demand as business activity strengthens.

For the official market, traders expect the day’s closing level to remain within the ₦1,430 to ₦1,435 range unless there is a late session surge in demand or supply.

Exchange rates may still vary by location, transaction size, and time of day.