The naira held on to its gains versus the US dollar on Thursday, April 30, 2026, as traders positioned for the approaching May 1 public holiday marking Workers’ Day. Currency movement ahead of holidays often brings a mix of caution and demand management in Nigeria’s foreign exchange market, and the latest figures showed the local unit continued to firm at the official window.
Data from the Central Bank of Nigeria indicated that the naira strengthened to 1,374.94 per dollar on Thursday. That compared with 1,379.46 per dollar traded on Wednesday, translating into a daily appreciation of about 4.5 naira against the dollar at the official foreign exchange market. The gain also marked a second straight day of improvement for the currency this week.
At the parallel or “black” market, however, the naira’s performance was unchanged. The exchange rate stayed at 1,395 per dollar on Thursday, the same level recorded the previous day. The contrast between the official and parallel markets underscores how liquidity conditions and expectations can differ across trading channels.
The currency’s steadier trend at the official rate comes as Nigeria’s external buffers continue to soften. Central Bank data put foreign reserves at $48.37 billion as of April 29, 2026, reflecting a continued decline in the country’s available dollar resources. With the holiday declared for Monday, May 1, market participants will be watching whether liquidity shifts over the break influence the next round of pricing.
