Dollar to Naira exchange rate today, January 30, 2026

The Nigerian Naira maintained its robust performance against the United States Dollar as it entered the final trading session of January 2026. The local currency continues to hover around the significant 1,390 support level in the official window, reflecting the positive impact of sustained liquidity measures and improved investor sentiment.

Official Market Trends

At the Nigerian Foreign Exchange Market (NFEM), the Naira opened the trading day with a strong showing, starting at approximately 1,388.07 per dollar. Throughout the early morning session on Friday, the rate experienced minor fluctuations as market participants adjusted to end-of-month corporate demands. By mid-morning, the exchange rate settled at 1,391.00 per dollar.

This steady valuation follows a week of gains where the Naira successfully breached the 1,400 psychological barrier. Financial analysts attribute this resilience to the Central Bank of Nigeria’s (CBN) consistent use of the Electronic Foreign Exchange Matching System (EFEMS) and a notable increase in the country’s external reserves. The transparency provided by these systems has significantly reduced the bid-ask spread, fostering a more predictable environment for importers and exporters alike.

Parallel Market Realities

The parallel market, or informal sector, has mirrored the stability seen in the official window, although it continues to trade at a traditional premium. In major commercial centers such as Lagos, Abuja, and Kano, Bureau De Change operators reported the dollar trading between 1,460 and 1,475.

Despite the gap, the parallel market has not seen the volatile spikes often associated with the end of the month. Traders indicate that the supply of dollars remains adequate to meet retail needs, such as personal travel allowances and small-scale business requirements. The absence of speculative hoarding has played a crucial role in keeping the informal rate within this range, providing a sense of relief to consumers and small business owners.

Summary of Rates for January 30

The NFEM official opening rate stood at 1,388.07 per dollar, with the current trading average at 1,391.00. Meanwhile, the parallel market average across major hubs remains around 1,467.

As the market prepares to close for the weekend, observers are optimistic that the Naira will carry this momentum into February. The combination of easing inflation, a surplus in the balance of payments, and the central bank’s proactive management continues to provide a solid foundation for the local currency’s value against the greenback.

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