Naira Holds at ₦1,340/$ as FX Market Sees Brief Stability
On April 17, 2026, the naira traded within narrow bands against major currencies after weeks of fluctuation. In the official window, it held between ₦1,340 and ₦1,344 per US dollar. In the parallel market, the dollar changed hands at about ₦1,385 to ₦1,390 on the buy side and ₦1,405 to ₦1,410 on the sell side in cities like Lagos. The pound and euro saw only slight movements. This calm reflects improved forex inflows from oil earnings and remittances, along with Central Bank interventions to boost liquidity. Demand pressure for dollars has eased marginally. For Nigerians, stable rates make imports and planning easier but leave imported goods and overseas costs high. Always verify rates with authorised institutions before transacting.
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