The Naira remained largely stable against the United States Dollar in the early trading hours of Tuesday, January 6, 2026, in both the official and informal foreign exchange markets, reflecting cautious optimism at the start of the trading week.

Figures obtained from the Nigerian Foreign Exchange Market showed that the local currency began the week with only slight movements. By Tuesday morning, the official exchange rate was quoted at about N1,431.47 to one Dollar, indicating a modest appreciation from the levels recorded during the first days of the new year.

During the opening days of 2026, the Naira had traded close to the N1,440 mark at the official window, making the current rate a marginal improvement and suggesting relative calm in the formal segment of the foreign exchange market.

In the parallel market, popularly known as the black market, the Naira continued to exchange at higher rates. Reports from Bureau De Change operators in major commercial centres such as Lagos, Abuja and Kano indicated that the Dollar was being sold for between N1,495 and N1,510.

The persistent disparity between the official and parallel market rates remains a key concern for investors and policymakers, particularly as the Central Bank of Nigeria continues to pursue reforms aimed at enhancing price discovery, boosting liquidity and narrowing the exchange rate gap.

Market analysts attributed the present stability in the Naira to a balance between Dollar demand for school fees and seasonal import-related activities, which has been moderated by steady market interventions and improved foreign portfolio investment inflows.

Despite the mild appreciation recorded at the official window, analysts noted that households and businesses remain exposed to exchange rate movements, as the prices of imported goods and overall cost of living continue to respond sharply to fluctuations in the value of the Naira.