The naira traded within a relatively stable range against the Canadian dollar on Friday, March 27, 2026, across both the official and parallel segments of Nigeria’s foreign exchange market.
At the Nigerian Foreign Exchange Market (NFEM), the Canadian dollar exchanged at approximately ₦1,000 to ₦1,030, based on prevailing mid-market data and recent trading trends. Current indicators place the average rate around ₦1,020 per CAD, reflecting modest day-to-day movements.
Available data also shows that the Canadian dollar has largely hovered within the ₦1,000–₦1,030 band in recent weeks, pointing to short-term stability in the official window.
In the parallel market, the naira traded at a weaker level due to stronger demand for foreign currencies outside official channels. Street traders and bureau de change operators quoted the Canadian dollar at roughly ₦1,000 to ₦1,100, though rates varied depending on location and transaction size.
Some market snapshots earlier in the week showed lower quotes around ₦900 to ₦1,030, highlighting the volatility and inconsistencies typical of the black market segment.
The gap between the NFEM and parallel market rates continues to reflect supply constraints and sustained demand for foreign exchange in Nigeria’s economy.
Analysts note that while the naira has seen improved stability at the official window—supported by policy measures and better liquidity conditions—pressures remain in the informal market where access to foreign currency is more limited.
Overall, the Canadian dollar remains relatively stable against the naira at the official market, but disparities with the parallel market underscore ongoing structural challenges in Nigeria’s foreign exchange system.