The Nigerian Naira maintained relative stability against the US Dollar on Friday, February 6, 2026, as activity in both the official and parallel foreign exchange markets reflected continued investor confidence.
In the official market, also known as the Nigerian Foreign Exchange Market (NFEM), the Naira opened the session at approximately ₦1,367.10 per US Dollar. Throughout the day, it traded within a narrow range of ₦1,366.50 to ₦1,367.00 per US Dollar, signaling minimal volatility and sustained stability. Analysts attribute this steadiness to ongoing central bank interventions aimed at supporting the local currency and maintaining a balanced macroeconomic environment.
In contrast, the parallel or black market continues to reflect a wider gap, with the US Dollar quoted between ₦1,430 and ₦1,460 per US Dollar, depending on the location and dealer. In major cities like Lagos and Abuja, independent trackers reported that buying rates hovered around ₦1,430 while selling rates reached approximately ₦1,450 per Dollar. The persistent difference between official and parallel market rates highlights underlying demand pressures and the challenge of harmonizing exchange rates across Nigeria’s financial landscape.
Economists note that the Naira’s performance in early February 2026 reflects cautious optimism among traders and foreign investors. The relative calm in the official window suggests that government and central bank policies are currently effective in stabilizing the currency, despite lingering pressures in informal markets.
As the Naira continues to navigate these dynamics, stakeholders and businesses closely monitoring foreign exchange trends are advised to consider both official and parallel market rates when planning transactions.
