Dollar to Naira Exchange Rate Today, January 23, 2026
The Nigerian naira strengthened against the United States dollar in early trading on Friday, January 23, 2026, closing the third week of the year on a positive note in the foreign exchange market.
Market watchers attributed the local currency’s improved performance to increased liquidity at the official foreign exchange window, alongside a noticeable easing of demand pressure for the dollar. These factors combined to support the naira’s upward momentum after weeks of relative volatility.
Traders said improved dollar supply from authorized dealers helped stabilize the market, while interventions by monetary authorities continued to calm speculative activity. The strengthening was observed primarily in the official market, with spillover effects across other segments of the forex market.
Analysts note that while the naira’s recent gains are encouraging, sustained stability will depend on consistent foreign inflows, stronger export earnings, and continued policy discipline. They also caution that global economic uncertainties and domestic demand pressures could still influence exchange rate movements in the coming weeks.
As of the close of early trading, the naira’s performance reflected cautious optimism among investors and businesses, offering temporary relief to importers and easing inflationary pressures tied to currency depreciation.
