NGN Market Update
07 Apr 2026 • 00:41 GMT
The Nigerian naira remains relatively steady against the US dollar, currently trading at around 0.000725 NGN/USD, slightly above its three-month average. Over recent weeks, NGN has stayed within a narrow range, between 0.000700 and 0.000746, indicating cautious stability.
This stability is supported by recent measures from the Central Bank of Nigeria, including the injection of $7.5 billion into the foreign exchange market earlier this year, which helped strengthen the naira. Expectations for 2026 remain positive, with projections pointing to the naira trading between N1,400 and N1,500 against the dollar due to ongoing reforms, rising reserves, and strong remittances.
While the NGN has been resilient, global factors like oil prices and geopolitical tensions continue to influence the currency. Overall, the outlook for the naira is cautiously optimistic, with analysts watching for further policy developments and economic reforms that could support stability through the remainder of 2026.
