The exchange rate of the United States Dollar (USD) to the Nigerian Naira (NGN) remained relatively stable on Tuesday, with the mid-market rate hovering around ₦1,470 to the dollar in major currency markets.

Data from foreign exchange tracking platforms show that 1 USD was exchanging at approximately ₦1,470.24, reflecting minimal change compared with recent sessions and pointing to modest market activity ahead of key economic data releases this week.

According to currency conversion services, the average USD/NGN rate over the past week moved in a narrow range, with a high near ₦1,470.24 and a low around ₦1,460.11, indicating subdued volatility in the foreign exchange market in the opening days of the new year.

Market Dynamics & Context

The Naira’s rate against the Dollar has seen relatively moderate fluctuations since late December, with year-end data showing trading levels that ranged broadly in the mid-₦1,400s to low ₦1,500s in 2025.

Analysts attribute the steady performance to a combination of foreign exchange inflows, improved liquidity on the Nigerian Foreign Exchange Market (NFEM), and ongoing policy signals from the Central Bank of Nigeria aimed at stabilising the currency.

Official Versus Market Rates

It is important to note that the mid-market rate — typically used by banks and international money transfer services — may differ from retail or bureau de change rates available to consumers and businesses.

Official Nigerian Foreign Exchange Market (NFEM) rates are published daily by the Central Bank of Nigeria, and these often serve as benchmarks for policy and large institutional transactions.

Outlook & Expert Views

Economists say that while the Naira has shown some resilience in recent months, exchange rates remain sensitive to global dollar strength, fluctuations in crude oil prices, and Nigeria’s foreign reserve levels.

With geopolitical tensions and international economic indicators putting intermittent pressure on the US Dollar globally, market watchers will be tracking developments closely in the coming weeks.

Summary Figures (January 6, 2026):

• Mid-Market USD/NGN Rate: ~₦1,470 per USD

• Weekly Range: ~₦1,460 – ₦1,470

The exchange rate today reflects a cautious yet broadly stable start to trading for the Nigerian currency in the new year, even as external economic conditions remain dynamic.