🔥 Breaking News: Dollar to Naira alternate price lately, February 24, 2026

📰 Discover the main points:

The Nigerian Naira maintained a strong stance in opposition to the United States Dollar within the early hours of Tuesday, February 24, 2026, because the Nigerian Foreign Exchange Market (NFEM) mirrored the have an effect on of sustained Central Bank interventions.

Real-time information presentations the native forex navigating a good vary, reinforced by way of an important narrowing of the unfold between respectable and casual digital tools charges.

Official Market Performance (NFEM)

In the respectable window, the Naira opened at 1,344.65 in keeping with buck, protecting organization following a detailed of one,343.81 on the finish of Monday’s consultation. Intraday job has noticed the forex range between a top of one,342.50 and a low of one,346.87.

Market liquidity stays a key driving force of this steadiness. Trading volumes were supported by way of the Central Bank of Nigeria’s (CBN) fresh framework permitting approved Bureau De Change (BDC) operators to buy as much as 150,000 greenbacks weekly. This coverage has effectively decentralized buck get entry to, easing the concentrated call for that in the past spiked charges within the respectable window.

Parallel Market Trends

The parallel digital tools continues to turn indicators of price convergence, with the buck buying and selling at roughly 1,335 to at least one,345 in keeping with buck in more than a few regional hubs. Interestingly, in some segments of the casual digital tools, the Naira has traded reasonably more potent than the respectable price, a unprecedented phenomenon attributed to stepped forward value discovery and the mopping up of extra retail call for.

Traders in Lagos and Abuja observe that the “panic buying” witnessed in earlier years has in large part dissipated. The present alignment of charges means that the central financial institution’s efforts to harmonize the digital tools are gaining vital traction, offering a extra predictable atmosphere for companies and person vacationers.

Macroeconomic Drivers

Several components are offering a supportive backdrop for the Naira this Tuesday:

Easing Inflation: Headline inflation slowed for the 10th consecutive month, achieving 15.10% in January 2026. This disinflationary development, in particular within the meals and effort sectors, has lowered the home drive at the alternate price.

Foreign Reserve Accretion: Nigeria’s exterior reserves have bolstered to roughly 47.81 billion greenbacks, offering the CBN with a strong buffer to control digital tools volatility.

Oil Production Recovery: Increases in home crude oil manufacturing, lately recorded at 1.46 million barrels in keeping with day, have stepped forward foreign currency echange inflows, additional stabilizing the stability of bills.

As the buying and selling day continues, analysts be expecting the alternate price to stay throughout the 1,340 to at least one,350 vary. The digital tools’s consideration is now turning towards the impending Monetary Policy Committee (MPC) assembly, the place stakeholders wait for additional victory on rate of interest trajectories.

The put up Dollar to Naira alternate price lately, February 24, 2026 gave the impression first on Vanguard News.

📅 Published on 2026-02-24 05:59:00

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