The Naira maintained its steady momentum against the United States Dollar as the first week of February 2026 drew to a close.

Despite a slight intraday adjustment, the local currency has demonstrated significant resilience in the official window, underpinned by consistent Central Bank of Nigeria (CBN) interventions and a transparent electronic trading framework.

In the Nigerian Foreign Exchange Market (NFEM), the Naira opened the session on Friday, February 6, with a strong showing at 1,367.10 per dollar.

As trading progressed through the morning, the rate experienced minor fluctuations, hitting a mid-morning average of 1,366.53.

This performance indicates a level of stability that has characterized the currency’s movement throughout the week.

Financial data from the CBN shows that the official rate has consistently held its ground below the 1,400 mark since the beginning of February.

Analysts attribute this stability to a combination of factors, including a moderating inflation rate of 15.15% and a steady Monetary Policy Rate (MPR) of 27.00%, which have collectively bolstered investor confidence and dampened speculative demand.

The parallel market, often sensitive to retail demand and speculative trends, remains relatively calm with a narrow spread compared to the official sector.

In major commercial hubs like Lagos and Abuja, Bureau De Change operators are quoting the dollar between 1,445 and 1,460.

While the “black market” continues to trade at a premium over the NFEM rate, the gap has remained notably narrow for much of the week.

Traders report that the absence of aggressive hoarding and a steady supply of dollars for personal travel and small business needs have prevented any major spikes.

This stability suggests that the CBN’s efforts to channel more demand into the official window are continuing to bear fruit.

NFEM (Official) Opening: 1,367.10
NFEM (Official) Current: 1,366.53
Parallel Market Range: 1,445 – 1,460

As the week concludes, market watchers remain optimistic about the Naira’s trajectory.

With the 2026 macroeconomic outlook projecting further stability, the local currency is expected to enter the second week of February with a strong foundation.

The focus for investors will now shift to the impact of upcoming treasury bill auctions and their potential effect on overall market liquidity.