Trending 
The Nigerian currency held firm against the US dollar on Monday, with the official exchange rate hovering around N1,375 per dollar amid sustained central bank interventions.
Data from the Central Bank of Nigeria’s foreign exchange market window showed the naira closing at N1,375.46/$ on Friday, with rates remaining steady at the start of the new week.
On the parallel market, the dollar was slightly more expensive. Bureau De Change operators in Lagos and Abuja bought the greenback at N1,385 and sold between N1,395 and N1,400.
Retail forex tracking platforms also recorded the naira at approximately N1,397/$ during Monday morning trading.
Demand pressures persist in the retail forex segment, keeping the gap between official and parallel market rates alive despite ongoing monetary policy reforms.
Analysts attribute the naira’s recent stability to improved dollar supply and tighter monetary conditions. However, they warned that import demand and external market volatility could still pose risks.
The NFEM rate, calculated using a volume-weighted average system, remains the benchmark for official transactions.
