The Nigerian naira maintained a stable position against the US dollar on Wednesday, January 21, 2026, trading around ₦1,420 in the official market.
Market analysts say the calm reflects growing confidence in the Central Bank of Nigeria’s 2026 economic policies and improved liquidity in the foreign exchange market.
During early trading, the naira opened at ₦1,419.29 and settled around ₦1,419.77, closely mirroring previous sessions.
Experts credit the steadiness to increased foreign exchange inflows, clearer CBN communication, and expectations that Nigeria’s external reserves could surpass $50 billion later this year.
In the parallel market, the dollar traded between ₦1,480 and ₦1,485 across Lagos, Abuja, and Kano.
Moderate demand from travel and small business needs drove transactions, while improved diaspora remittances helped ease pressure on the informal market.
Analysts remain cautiously optimistic, noting inflation and global oil prices will influence the naira’s trajectory in 2026.
