The Nigerian naira remained relatively stable against the US dollar across both the official and parallel markets as trading resumed midweek.
At the Nigerian Foreign Exchange Market (NFEM), the official exchange rate hovered between ₦1,324 and ₦1,330 per dollar, reflecting relatively stable liquidity conditions under the supervision of the Central Bank of Nigeria (CBN).
The performance follows modest gains recorded earlier in the week, as the naira continues to trade within a relatively narrow range in the official market.
In the parallel market, where the dollar is widely traded by retail customers, international travellers and small-scale importers, the currency was quoted at about ₦1,375 to the dollar for buying and ₦1,385 for selling, according to Bureau De Change (BDC) operators.
The relatively narrow gap between the official and parallel-market rates points to improved alignment between the two segments of the foreign exchange market.
Market participants are closely watching capital inflows, oil export earnings and seasonal demand for foreign currency, which could influence the naira’s performance in the final stretch of the third quarter.
