The naira traded within a relatively stable range against the United States dollar at the official market on Thursday, April 23, 2026, reflecting marginal movements in early trading activity.Data from the Nigerian Foreign Exchange Market (NFEM) showed that the local currency hovered around the mid-₦1,300 band per dollar, continuing a trend of slight fluctuations recorded in recent sessions.
Market indicators point to modest volatility, with the naira maintaining a narrow trading corridor.In comparable recent sessions, the currency was quoted at an average of ₦1,347.33 per dollar, indicating a minor depreciation from previous closing levels. Meanwhile, earlier data showed the naira trading at approximately ₦1,345.47 per dollar during morning operations, reflecting a marginal appreciation at the time.
Analysts note that the current movement underscores a largely stable foreign exchange market, supported by sustained liquidity and ongoing interventions by monetary authorities. Despite intermittent pressures driven by demand for foreign exchange, the naira has continued to show resilience within the official trading window.Market watchers expect the currency to remain within this range in the short term, barring any significant shocks from external or domestic economic factors.
