The Nigerian Naira showed relative stability against the US Dollar in early trading on Wednesday, March 11, 2026. Data from the Central Bank of Nigeria indicates the currency opened around ₦1,397 per dollar in the official market, with slight fluctuations during trading hours.

In the official Nigerian Foreign Exchange Market, the rate later moved close to ₦1,399 per dollar after dipping slightly earlier in the session. Analysts say the stable performance is supported by improved liquidity and the “willing-buyer, willing-seller” exchange rate system introduced by the apex bank.

In the parallel market, also known as the black market, the dollar traded between ₦1,405 and ₦1,418. Traders in major cities such as Lagos and Abuja said demand remains steady but controlled due to the availability of foreign exchange through Bureau De Change operators.

Economic experts believe the Naira’s stability is supported by strong external reserves, improved investor confidence, and Nigeria’s growing domestic refining capacity. Analysts expect the exchange rate to remain within the ₦1,395 to ₦1,405 range in the official market for the rest of the day.