Naira to Dollar official & black market rates today, Monday, February 9, 2026

GistReel

The Nigerian Naira showed fresh signs of stability as trading opened in the second week of February 2026, holding firm against the United States dollar at around ₦1,363.84 across key foreign exchange windows.

Early market data on Monday confirmed that the naira is sustaining its recent calm performance, backed by consistent monetary policies and improved confidence in foreign exchange management.

Official Market Opens Strong

At the Nigerian Foreign Exchange Market (NFEM), the naira recorded a mild appreciation at the start of the week.

It traded around ₦1,363.84 to the dollar, improving slightly from Friday’s closing rate of ₦1,366.96.

Trading activities in the early hours revealed minimal volatility, with exchange rates moving within a narrow band of ₦1,363.35 to ₦1,363.84.

This steady pattern reflects renewed confidence among market participants as full trading resumes for the week.

Financial analysts link the stability to the Central Bank of Nigeria’s effective handling of the Electronic Foreign Exchange Matching System (EFEMS).

The platform has improved transparency and reduced sharp differences between official and alternative exchange markets.

With inflation reported at 15.15 percent and the Monetary Policy Rate held at 27.00 percent in early 2026, the naira has remained comfortably below the ₦1,400 psychological threshold.

Parallel Market Follows Same Trend

The parallel, or black market, has also reflected the calmer mood seen in the official window.

In major trading centres including Lagos, Abuja, and Kano, the dollar exchanged between ₦1,440 and ₦1,455.

Although the parallel market still trades at a premium, the gap has narrowed significantly compared to the sharp swings recorded towards the end of 2025.

Operators say demand for personal travel and small-scale imports is being met without pressure.

Traders also noted the absence of aggressive speculation at the start of the week.

This development points to the success of the CBN’s efforts to redirect large corporate demand to the official market, helping to limit sudden price jumps.

Opening Exchange Rate Snapshot

NFEM Opening Rate: ₦1,363.86

NFEM Current Rate: ₦1,363.84

Parallel Market Range: ₦1,440 – ₦1,455

As trading continues, investors will closely watch foreign exchange inflows to see if the naira can strengthen further and break below the ₦1,360 support level.

For now, the outlook for February remains optimistic, with the local currency expected to maintain its defensive position against the dollar.