Dollar to Naira Exchange Rate Today (January 7, 2026): Official CBN Rate vs Black Market USD to NGN

The Nigerian naira traded on a stable but cautious note against the United States dollar during early trading hours on Wednesday, January 7, 2026, reflecting a period of relative calm in the foreign exchange market following the festive season.

Data from the Nigerian Foreign Exchange Market and informal market sources show that the naira is maintaining balance as market participants adjust to renewed economic activity at the start of the year.

At the official foreign exchange window, the naira opened trading at approximately ₦1,432 per dollar. This represents a slight weakening compared to earlier levels recorded earlier in the week, when the exchange rate traded around ₦1,428 per dollar. Analysts attribute the marginal movement to increased demand for foreign exchange by businesses resuming import activities as full operations return after the holidays.

In the parallel market, commonly known as the black market, the dollar continued to trade at a premium to the official rate. Currency traders in major commercial centres such as Lagos and Abuja reported buying rates ranging between ₦1,485 and ₦1,500 per dollar. Although the gap between official and parallel market rates persists, it has remained relatively stable compared to the sharp volatility experienced in previous quarters.

Market observers note that this stability reflects the impact of ongoing liquidity management and foreign exchange interventions by the Central Bank of Nigeria aimed at easing pressure on the naira.

Investor sentiment remains focused on the Central Bank’s policy direction for the first quarter of 2026. Market participants are closely watching whether the apex bank will increase foreign exchange supply to authorised dealers to meet the expected rise in retail and corporate demand.

As trading progresses, official market rates are expected to close within the ₦1,430 to ₦1,435 per dollar range, provided there are no significant late-day fluctuations.