Dollar to Naira Exchange Rate Today, January 22, 2026

On Thursday, January 22, 2026, the Nigerian Naira experienced a slight softening in the early trading hours as the foreign exchange market adjusted to standard mid-week liquidity demands.

While the Naira continues to maintain stability within the established range throughout the month, minor fluctuations in both the official and informal exchange rates highlight the ongoing price discovery process.

At the Nigerian Foreign Exchange Market (NFEM), the Naira opened the day at a rate of 1,419.37 per dollar. By the mid-morning session, this rate had adjusted to around 1,421.33, representing a marginal depreciation of approximately 0.14%.

This shift follows a period of notable gains earlier in the week, indicating a slight correction as market participants balance corporate demand against the supply provided by the Central Bank of Nigeria (CBN). Despite this slight intraday decline, analysts note that the official rate remains stable around the 1,420 benchmark, supported by an improved foreign reserve position and consistent revenues from crude oil exports.

In the parallel market, exchange rate movements mirrored those in the official market, with currency dealers in significant economic centers such as Lagos and Abuja reporting dollar rates ranging from 1,482 to 1,495. This marks a slight increase from the previous day’s average, reflecting steady retail demand for foreign currency.

The premium between the NFEM and the black market remains relatively narrow, indicating that government efforts to harmonize exchange rates are largely effective. Traders suggest that while currency supply is available, the recent uptick in the parallel rate can be attributed to increased activity from small-scale importers as businesses prepare for the first quarter.

The opening rate for the Naira at the NFEM was 1,419.37 per dollar, and the current trading average is approximately 1,421.33. In the informal sector, major hubs report an average rate of around 1,488.

Looking ahead, market attention will be on the weekly closing figures to assess whether the Naira can stabilize below the 1,420 mark. With inflation forecasts for 2026 trending downward and a positive balance of payments on the horizon, the overall outlook for the Naira remains resilient amidst temporary market fluctuations.