Abuja — The Nigerian naira has started the second quarter of 2026 on a stable note, trading within a controlled range against the U.S. dollar as macroeconomic buffers strengthen.
External reserves, according to the Central Bank of Nigeria (CBN), remain robust at about $49.40 billion, providing sufficient cover for foreign exchange interventions and market stability.
The CBN has maintained a tight monetary stance, with the Monetary Policy Rate held at 26.5 per cent, helping to attract foreign portfolio inflows into naira assets.
Analysts say the combination of strong reserves and high interest rates is supporting investor confidence and helping the naira withstand external pressures, including global market volatility.
However, they caution that sustained stability will depend on continued FX inflows, oil revenue performance, and consistent policy coordination.
The naira’s Q2 outlook remains closely tied to global energy prices and domestic monetary discipline, as authorities seek to balance currency stability with broader economic growth.