Naira Stability Against Dollar on February 16, 2026

On February 16, 2026, the Nigerian naira began the third week of February positively, maintaining its recent gains against the US dollar. The official market opened at approximately 1353.54 per dollar, with minor fluctuations leading to a mid-morning trade rate of 1354.15.

Financial analysts attributed the naira's resilience to the Central Bank of Nigeria's (CBN) consistent policies and the effective functioning of the electronic foreign exchange market. Recent decisions to boost retail liquidity through licensed bureau de change operations have helped absorb previous pressures on the official window.

The parallel market exchange rates remained stable, ranging from 1420 to 1435, indicating increased market confidence. The outlook for the naira for the remainder of the week appears optimistic, supported by steady growth in Nigeria's external reserves and the CBN's proactive stance on market liquidity.

Traders indicated that supply levels currently meet demand, discouraging speculative hoarding that historically contributed to currency devaluation.