Dollar To Naira Exchange Rate Today, April 6, 2026

Also Read

The Naira opened trading on Monday at the Nigerian Foreign Exchange Market (NFEM) with marginal fluctuations, real-time data showed, closing in at ₦1,377.80 per US Dollar in early hours. This reflects a slight appreciation from ₦1,380.79 recorded at the end of last week.

Trading in the official window remains robust, largely supported by the Electronic Foreign Exchange Matching System (EFEMS), which has improved transparency and price discovery, anchoring the rate near the ₦1,380 mark despite the global strength of the Dollar.

Analysts say the current exchange rate environment is influenced by several macroeconomic factors, including Nigeria’s foreign exchange buffers. Reserves recently hit $49.29 billion, following a period of debt servicing, with projections by the Central Bank of Nigeria (CBN) targeting $51.04 billion, driven by steady oil receipts and foreign investments.

The Monetary Policy Committee (MPC) continues to maintain a high interest rate of 26.5%, aiming to curb inflation and enhance the attractiveness of Naira-denominated assets to foreign portfolio investors.

Additionally, reforms in the remittance sector, including routing diaspora transfers through formal settlement accounts, have significantly boosted the daily supply of foreign currency to banks, supporting the stability of the Naira.