Dollar to Naira Exchange Rate Today, February 19, 2026

The Nigerian foreign exchange landscape has opened with fresh data showing a marginal depreciation of the Naira against the United States Dollar in the early hours of Thursday, February 19, 2026.

Market participants are closely watching the convergence between official and unofficial rates as liquidity remains a primary concern for importers and manufacturers.

In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency opened at 1,346.40 per Dollar. This represents a slight decline from the previous day’s closing average. Trading data indicates that the market saw an initial push from 1,340.00 at the start of the day before settling into its current range.

The intraday movement suggests a heightened demand for the greenback, though high-level supply from institutional investors continues to provide a buffer against extreme volatility. Financial experts note that the Central Bank’s current policy framework appears focused on maintaining this 1,340–1,350 corridor to ensure predictability for international trade.

Parallel Market (Black Market) Overview

Activity in the informal or parallel market remains robust, with the Dollar maintaining its premium. In major commercial centers such as Lagos and Abuja, Bureau De Change (BDC) operators are currently quoting the Dollar at a buying rate of 1,490 and a selling rate ranging between 1,505 and 1,515 per Dollar.

The stability in the parallel market over the last 24 hours suggests that retail demand for personal travel allowances (PTA) and overseas tuition payments has reached a temporary equilibrium. However, the persistent gap of over 150 Naira between the official and unofficial windows continues to challenge the government’s efforts toward full exchange rate unification.

Market Drivers and Sentiment

The current rates are being influenced by a combination of global oil price fluctuations and local fiscal policies aimed at tightening Naira liquidity. While the official window shows resilience, the parallel market remains sensitive to speculative pressures and the immediate needs of small businesses that cannot wait for official bank processing times.

As the trading day progresses, market analysts anticipate that the NAFEM rate will hold steady, barring any significant policy announcements or sudden shifts in foreign reserve levels. For stakeholders, the focus remains on the closing figures of the work week to determine the short-term trajectory of the local currency.