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    The Nigerian Naira is trading at an estimated ₦1,348.77 per US Dollar in the official market as of Wednesday, April 22, 2026, reflecting ongoing fluctuations across the country’s foreign exchange segments.

    Market participants are actively tracking movements within the Nigerian Foreign Exchange Market (NFEM) and the parallel market as the day progresses.

    Official Market Movements

    At the Nigerian Foreign Exchange Market (NFEM), the Naira began trading with a modest shift against the US Dollar.

    Early figures show the currency hovering around ₦1,348.77/$1, after briefly strengthening to about ₦1,346.30 before settling within the mid-₦1,340 range.

    The official window continues to serve as the key platform for formal transactions, including government-backed forex allocations.

    Meanwhile, the Central Bank of Nigeria sustains liquidity through periodic market interventions aimed at stabilising the currency.

    Parallel Market Activity

    In the parallel market, which reflects informal and retail-driven demand, the Naira trades at a noticeably weaker range.

    Reports from major currency trading hubs in Lagos, Abuja, and Kano indicate rates between ₦1,450 and ₦1,470 per Dollar.

    This disparity between official and parallel market rates highlights persistent demand for foreign exchange, especially for transactions such as travel allowances and small-scale imports that often fall outside formal channels.

    Market Outlook

    Financial experts link the Naira’s current trajectory to external factors such as global oil price movements and Nigeria’s foreign reserve position.

    While the official market shows relative stability, the parallel segment remains vulnerable to speculative pressures.

    Stakeholders and investors are encouraged to monitor intraday developments closely, as final figures from the FMDQ Securities Exchange are expected to offer clearer guidance on the currency’s direction for the rest of the week.

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