- Dollar To Naira Rate Today, April 8, 2026
- Official rate weakened to N1,389 per dollar, showing slight depreciation.
- Gap between markets narrowed to N5 amid reduced trading activity.
The Nigerian currency showed mixed performance on Tuesday, April 8, 2026, as the naira appreciated in the parallel market but weakened in the official window.
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EKO HOT BLOG reports that at the parallel market, the naira strengthened to N1,396 per dollar, improving from N1,400 per dollar recorded last Thursday. This reflects a modest gain driven by improved demand and supply balance in the informal market.
However, at the official window, the naira depreciated to N1,389 per dollar in the Nigerian Foreign Exchange Market. According to data from the Central Bank of Nigeria, the indicative exchange rate rose from N1,382.75 per dollar last Thursday, indicating a depreciation of N6.25.
| Market Type | Exchange Rate (₦/USD) | Previous Rate (₦/USD) | Change |
|---|---|---|---|
| Parallel Market | 1,396 | 1,400 | Naira appreciated by N4 |
| Official Market (NFEM) | 1,389 | 1,382.75 | Naira depreciated by N6.25 |
The gap between the parallel market and the official market narrowed significantly to N5 per dollar, compared to N17.25 recorded last Thursday. This suggests a closer alignment between both markets.
Meanwhile, activity in the interbank foreign exchange market declined, with the number of deals dropping to 71, representing an 18 percent decrease from the 87 deals recorded in the previous session.
Analysts say the narrowing gap could signal improved market coordination, although volatility remains a concern for businesses and investors.
