Naira trades steady at ₦1,370/$

The Nigerian Naira maintained a stable performance against the United States Dollar in early trading on Friday.

In the Nigerian Foreign Exchange Market (NFEM), the official trading window, the Naira opened the session at ₦1,370.05 per US Dollar.

This remained broadly in line with recent closing levels, which fluctuated within the ₦1,371 to ₦1,373 range in the preceding session.

Market liquidity within the official window remained relatively steady, supported by sustained interbank activity and continued monetary interventions by the Central Bank of Nigeria (CBN).

These measures have helped moderate intraday volatility and stabilise pricing dynamics.

In the parallel market, Bureau De Change operators in major commercial centres such as Lagos, Abuja, and Kano quoted the Naira at around ₦1,370 for buying and ₦1,372 for selling per US Dollar.

This reflects a narrowing spread between both market segments.

Analysts attribute the improved stability to moderated foreign exchange demand and a tight monetary policy stance, with the Monetary Policy Rate (MPR) held at 26.5 percent.

Market observers note that the policy environment continues to anchor expectations, curb speculative activity, and support greater predictability in exchange rate movements for businesses and investors.