By Rachel Akper

The Nigerian naira maintained a steady performance against the United States dollar on Thursday, March 19, 2026, across both the official and parallel foreign exchange markets.

In the Nigerian Foreign Exchange Market (NFEM), the local currency was quoted at an average of ₦1,357.11 per dollar during early trading, reflecting a marginal movement from the previous day’s closing rate.

Market activity in the official window remained strong, supported by recent interventions from the Central Bank of Nigeria.

Nigeria’s gross external reserves also rose to $50.03 billion, marking a 13-year high and providing additional support for exchange rate stability.

In the parallel market, also known as the black market, the naira traded at ₦1,410 for buying and ₦1,415 for selling. These rates were observed in major foreign exchange hubs, including Lagos and Abuja.

The difference between the official and parallel market rates stood at approximately ₦53 to ₦58.

Meanwhile, global oil prices remained elevated, with Brent crude trading above $100 per barrel, contributing to increased foreign exchange inflows into the country.

The naira’s performance comes amid ongoing developments in the foreign exchange market, as authorities continue efforts to manage liquidity and stabilise the currency.