By JKNewsMedia Reporter
TRADING OPENED in 2026 with a modest lift for the naira at the official foreign exchange market, where the currency exchanged at N1,430.84 to the dollar on Friday, reflecting a gain of N4.31 kobo or 0.34 percent from the N1,435.75/$ level recorded on December 31, 2025.
Data from the Nigerian foreign exchange market showed the local currency gained N4.31 kobo, or 0.34 percent, from N1,435.75/$ recorded on December 31, 2025.
The official market data indicated that the naira later traded at N1,442.51/$ on Monday before declining to N1,445.68/$ on Tuesday.
By Wednesday, the local currency regained some ground, appreciating to N1,435.75/$ against the dollar.
At the parallel segment of the market, the naira depreciated to N1,495/$ on Friday, down 0.34 percent from N1,490/$ at the end of 2025.
The currency strengthened to N1,485/$ on Monday, declined to N1,490/$ on Tuesday, and held steady at that level on Wednesday.
President Bola Tinubu, in his New Year message, said Nigeria’s foreign reserves had cushioned the naira against external shocks and were expected to strengthen in 2026.
He stated, “Supported by sound monetary policy management, our foreign reserves stood at $45.4 billion as of December 29, 2025, providing a substantial buffer against external shocks for the naira.”
He added, “We expect this position to strengthen further in the new year.”
The official and parallel market data underscore the differing dynamics between the segments, with the naira showing stronger performance on the official platform while facing pressure in the parallel market.
The early trading patterns reflected continued market activity following the December 31 close, with the currency recording slight volatility in both official and parallel rates.
The Nigerian foreign exchange market data demonstrated that the naira’s official value strengthened modestly at the start of 2026, while the parallel market continued to trade at a wider spread.
Trading activity across the week indicated an initial gain at the official market, a brief decline on Tuesday, and partial recovery midweek, signalling cautious market sentiment at the start of the new year.
President Tinubu’s remarks highlighted the role of Nigeria’s foreign reserves in stabilising the currency and providing a buffer against external economic pressures.
He reaffirmed the government’s expectation that continued management of foreign reserves would support the naira’s position in 2026.
The official market appreciation came amid modest fluctuations, while the parallel market’s movement suggested sustained demand pressures for foreign exchange outside the regulated market.
Overall, the opening week of 2026 in Nigeria’s forex market reflected both resilience and sensitivity of the naira to trading activity and external factors, according to market data and presidential commentary.
