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    The Nigerian Naira opened trading on Monday, April 20, 2026, at approximately ₦1,347.33 per US Dollar in the official foreign exchange market, reflecting a slight shift in value across market segments at the start of the week.

    The local currency began the week under mild pressure, driven by steady demand for the US Dollar used for imports, international transactions, and remittance obligations. Despite this demand, overall market conditions remained relatively stable.

    In the Nigerian Foreign Exchange Market (NFEM), the official trading window, the Naira averaged ₦1,347.33 per Dollar during early trading hours.

    This indicates a modest depreciation compared to the previous week’s closing figures. Traders noted that liquidity conditions were still largely supported by regulatory oversight from the Central Bank.

    Nonetheless, early market activity recorded increased Dollar demand, which contributed to the slight upward movement in exchange rates compared to the previous Friday.

    In the parallel market, also known as the black market, the Naira continued to trade at higher rates than the official window. However, the gap between both markets remained relatively steady and less volatile than in earlier periods.

    In key commercial centres including Lagos, Abuja, and Kano, Bureau De Change operators reported buying rates around ₦1,395 and selling rates close to ₦1,405 per Dollar.

    This suggests that Dollar availability is still sufficient to meet most retail-level demand, helping to prevent sharp swings in the informal market.

    Financial analysts say the Naira’s current performance reflects a combination of domestic economic policies and global market influences.

    The relative stability in crude oil prices has also helped strengthen Nigeria’s external reserves.

    This has provided some buffer against exchange rate instability, even as underlying demand for foreign currency continues to exert pressure on the system.

    For businesses and investors, the situation highlights the importance of monitoring short-term market movements.

    While extreme volatility has reduced compared to previous years, gradual shifts in rates still reflect ongoing adjustments in Nigeria’s foreign exchange framework.

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