Dollar to Naira exchange rate today, January 15, 2026
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The Nigerian Naira started the day with slight fluctuations against the United States Dollar across both the official Nigerian Foreign Exchange Market (NFEM) and the informal parallel market. As the first month of 2026 progresses, market participants are closely monitoring liquidity levels and the impact of central bank interventions on the local currency.
Official Market Performance
In the early hours of Thursday, January 15, data from the Nigerian Foreign Exchange Market indicated that the Naira opened at approximately 1,422.25 per Dollar. Following early morning trading activity, the rate saw a marginal depreciation, settling around 1,423.42 per Dollar.
The intraday movement suggests a relatively stable start for the official window, though it remains sensitive to the volume of available forex. Analysts attribute this narrow trading range to the ongoing efforts by the Central Bank of Nigeria to manage volatility and bridge the gap between various segments of the market.
Parallel Market Trends
In the informal or “black” market, the Naira continues to trade at a premium compared to the official rate. Bureau De Change operators in major hubs like Lagos and Abuja reported exchange rates ranging between 1,495 and 1,510 per Dollar for those looking to buy.
The disparity between the NFEM and the parallel market persists as demand for the greenback remains high for personal travel allowances, school fees, and small-scale imports. Despite the higher costs in this segment, liquidity is often reported to be more readily accessible than in the official banking channels.
Market Outlook
Market observers expect the exchange rate to remain within the current corridors for the remainder of the week. Factors likely to influence the Naira’s performance in the coming days include:
Fluctuations in global crude oil prices affecting Nigeria’s foreign reserves.
The volume of trade through the official NFEM window.
Anticipated policy announcements regarding interest rates and inflation management.
As the business day unfolds, stakeholders are advised to keep a close watch on closing rates, which will provide a clearer picture of the currency’s trajectory for the rest of the month.
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