Dollar to Naira Exchange Rate Today, January 19, 2026

On Monday, January 19, 2026, the Nigerian Naira exhibited stability against the United States Dollar as the market opened for the week.

This steadiness follows a consolidation phase in the foreign exchange market, which has been bolstered by improved external reserves and recent adjustments in monetary policy.

At the Nigerian Foreign Exchange Market (NFEM), the Naira commenced the day at an average rate of 1,420.59 per dollar, reflecting a slight appreciation from the closing rates observed at the end of the previous week, where it lingered around 1,422.

During the early morning trading session, the Naira reached a high of 1,422.59 before settling down, ultimately showing a 0.14% improvement in value during the initial hours of trading.

​Financial analysts attribute this relative calm in the official window to the Central Bank of Nigeria’s continued efforts to maintain liquidity. With external reserves currently projected to exceed 50 billion dollars later this year, investor confidence remains higher than in previous quarters.

​In the parallel market, commonly referred to as the black market, the exchange rate showed a similar trend of stability, though it continues to trade at a slight premium compared to the official window. Bureau De Change operators in Lagos and Abuja reported buying rates between 1,465 and 1,470 per dollar, while selling rates ranged from 1,472 to 1,475.

​Despite the persistent gap between the official and parallel markets, the volatility that characterized the market in 2024 and 2025 has significantly eased. This narrowing spread is widely seen as a result of the unified exchange rate reforms and increased diaspora remittances.

​Government officials and economists remain optimistic about the currency’s performance for the remainder of 2026. Finance Minister Wale Edun recently noted that the “consolidation phase” of the economy is yielding results, with inflation expected to average around 16.5% this year—a sharp decline from the peaks seen two years ago.

​The Central Bank’s Economic Policy Directorate has also projected a stabilisation of the Naira, supported by higher oil receipts and stronger structural reforms. Market participants are keeping a close eye on the upcoming monetary policy meetings, which are expected to provide further direction for interest rates and foreign exchange management.