Dollar to Naira Exchange Rate Today, January 7, 2026

The naira traded on a largely steady note against the United States dollar on Wednesday, January 7, 2026, as activities at the foreign exchange market remained calm after the festive break.

At the official Nigerian Foreign Exchange Market (NFEM), the naira opened at about ₦1,432.00 to the dollar. This represents a slight depreciation from earlier in the week, when the currency exchanged around ₦1,428.00.

Market operators attributed the marginal movement to renewed demand for foreign exchange by businesses resuming import transactions at the start of the new year.

Parallel Market

At the parallel market, commonly known as the black market, the naira continued to trade at a premium to the official rate. Dealers in Lagos and Abuja quoted buying rates between ₦1,485.00 and ₦1,500.00 per dollar.

Although the gap between the official and parallel markets persists, traders said the spread has remained relatively stable compared to the sharp volatility recorded in previous quarters. The stability has been linked to ongoing liquidity interventions by the Central Bank of Nigeria (CBN).

Market attention is now focused on the CBN’s policy direction for the first quarter of 2026, particularly whether the apex bank will increase foreign exchange supply to authorised dealers to meet expected growth in demand.

As of midday, the naira was projected to close within the ₦1,430.00 to ₦1,435.00 range at the official NFEM window, barring any late trading pressure.