The Nigerian Naira maintained its sturdy stance towards the USA Greenback on Thursday, February 12, 2026, because the native foreign money hit a two-year excessive within the official market. This milestone comes on the heels of strategic strikes by the Central Financial institution of Nigeria (CBN) to spice up retail liquidity and slender the persistent hole between official and parallel market charges.
Official Market Traits
Within the Nigerian Overseas Change Market (NFEM), the Naira confirmed spectacular energy, opening the day’s session close to the 1,351 mark. Following a robust efficiency on Wednesday, the place the foreign money appreciated to 1,348.95, mid-morning buying and selling on Thursday noticed the speed hovering round 1,354.01 per greenback.
Market analysts attribute this sustained appreciation to the CBN’s latest resolution to reopen the “greenback faucet” for licensed Bureau De Change (BDC) operators. By approving weekly FX purchases of as much as 150,000 {dollars} for BDCs, the apex financial institution has successfully eased shortages within the retail phase. This coverage intervention has considerably improved value discovery and transparency, permitting the Naira to commerce at its firmest ranges since early 2024.
Parallel Market Efficiency
The parallel market, or “black market,” has reacted to the elevated official liquidity with a notable sense of calm. In main business hubs like Lagos and Abuja, the Naira remained regular, with the greenback buying and selling at roughly 1,430 to 1,440.
Whereas a variety of roughly 90 Naira nonetheless exists between the NFEM and the road fee, the hole has stabilized as speculative stress begins to wane. Merchants report that the direct involvement of BDCs within the official window has began to fulfill reputable retail wants for private journey and small-scale enterprise transactions, lowering the frantic demand that usually drives up costs within the casual sector.
Abstract of Charges for February 12
- NFEM (Official) Opening: 1,351.65
- NFEM (Official) Present: 1,354.01
- Parallel Market Common: 1,430 – 1,440
Because the week progresses, the main focus stays on the sustainability of the CBN’s liquidity injections. With the Naira at the moment outperforming main friends and exterior reserves offering a strong buffer, the outlook for the rest of February stays bullish. Traders and customers alike are carefully watching the closing charges, which can sign whether or not the Naira can preserve its newly discovered floor beneath the 1,360 threshold.
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