The Naira is exchanging at N1,490/$ in the parallel market, also called the Black Market, according to data from Aboki Forex.
The currency is also trading at N2,015/GBP, N1,720/EUR, and N1,130/CAD.
At the Central Bank of Nigeria’s (CBN) official exchange window, the local currency closed on Tuesday, January 20, 2026, at N1,419.35 against the US Dollar, N1,907.64 per Pound Sterling, and N1,666.31 per Euro.
As of filing this report, the Apex Bank has not updated today’s rates.
On the Naira Daily FX rate for international transactions via Naira Card Windows, GT Bank closed at N1,429/$, while Standard Chartered Bank recorded N1,438/$, N1,941/GBP, N1,693/EUR, and N1,041/CAD.
The CBN recently withdrew N2.64 trillion in excess liquidity through its Open Market Operations (OMO) auction on January 20, 2026.
The bank also reopened N900 billion in FGN Bond offers via the Debt Management Office (DMO) as part of efforts to stabilise the Naira, control money supply, and tackle inflation, especially given the surge in liquidity during the yuletide season.
Additionally, the Apex Bank auctioned N1.15 trillion in Treasury Bills across 91-day, 182-day, and 364-day maturities to manage system liquidity and reduce inflationary pressures.
Key Takeaways
The Naira weakened further in the parallel market to N1,490/$, widening the gap with the official rate of N1,419.35/$. This reflects persistent forex demand in the open market amid limited supply.
The CBN continues to absorb excess liquidity to curb inflation and stabilise the currency after the holiday period.
Analysts say that sustained tight monetary policy combined with improved foreign exchange inflows could help narrow the gap between parallel and official rates in the coming months.
